News : Financial Readiness

CFPB Takes Action Against NewDay Financial for Deceptive Mortgage Advertising and Kickbacks

Tuesday, February 10, 2015  
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CFPB Takes Action Against NewDay Financial for Deceptive Mortgage Advertising and Kickbacks

 

Lender to Pay $2 Million Civil Penalty for Illegal Conduct

 

WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) took action against NewDay Financial, LLC for deceptive mortgage advertising and kickbacks. NewDay deceived consumers about a veterans’ organization’s endorsement of NewDay products and participated in a scheme to pay kickbacks for customer referrals. NewDay will pay a $2 million civil money penalty for its actions.


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