The Consumer Financial Protection Bureau (CFPB) and 13 state attorneys general announced an action against Colfax Capital Corporation and Culver Capital, LLC (collectively known as “Rome Finance”) that will provide debt relief to “about 17,000 U.S. servicemembers and other consumers harmed by the company’s predatory lending scheme,” according to the press release. According to the release, “Rome Finance lured consumers with the promise of no money down and instant financing … then masked expensive finance charges by artificially inflating the disclosed price of the consumer good being sold,” among other deceptive practices. The CFPB’s consent order requires Rome Finance to cease consumer lending, provide approximately $92 million in debt relief to its customers, and compensate affected consumers for excess finance charges, among other actions. CFPB Director Richard Cordray said of the CFPB’s action, “Rome Finance’s business model was built on fleecing servicemembers. … Today, their long run of picking the pockets of our military has come to an ignominious end.” For more, read the full release