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CFPB counters firm's suit with charges of illegal fees, deceiving consumers

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One week before the Consumer Financial Protection Board was to defend its constitutionality in U.S. District Court, the agency filed a lawsuit against the accusing firm and its president. The CFPB — created three years ago under the Dodd Frank Act — today sued Morgan Drexen, Inc., and its president Walter Ledda, claiming the company charged illegal fees and deceived consumers. The agency...

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