The CFPB and the South Carolina Department of Consumer Affairs (SCDCA) recently settled a lawsuit they filed jointly in a South Carolina federal district court in October 2019 against Performance Arbitrage Company, Inc. and Life Funding Options, Inc., and their individual owner that alleged the defendants violated the Consumer Financial Protection Act and the South Carolina Consumer Protection Code by brokering high-interest loans to consumers that were marketed as purchases of the consumers’ future pension or disability payments. … Continue Reading