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The CFPB will distribute more than $384 million to consumers deceived by Think Finance, LLC

The CFPB is compensating consumers who it alleged were deceived by Think Finance, LLC, into repaying loans they did not legally owe. Think Finance, LLC, made false demands and illegally took money from consumers’ bank accounts for debts that were not owed under laws in 17 states, according to the CFPB’s lawsuit.

Many states have laws saying that loans and other types of credit are invalid if the interest rates are higher than what the state allows, or if a lender is not properly licensed to conduct business in the state. The CFPB alleged that Think Finance demanded payments from consumers even when consumers didn’t owe those payments because the interest rates the lenders charged were high enough to violate these laws in some states where they did business, or because lenders did not have proper licenses to lend or collect in certain states. In addition, the CFPB alleged that Think Finance made electronic withdrawals from consumers’ bank accounts or called or sent letters to consumers demanding payment for debts that the consumers were under no legal obligation to pay.

If you are one of the 191,672 consumers who took out a loan with Think Finance or a related entity and you made payments that you did not actually owe, you will be sent payments on May 14, 2024, through Epiq Systems. You can learn more about the distribution at: If you have questions about receiving a refund, email or call 1 (888) 557-1865.

The total distribution amount is $384,009,580.74 and the money will come from the CFPB’s victims relief fund.

Action against Think Finance, LLC

In November 2017, the CFPB filed a lawsuit against Think Finance, LLC, and six of its subsidiaries for engaging in unfair, deceptive, and abusive acts and practices that violated the Consumer Financial Protection Act. Think Finance, working with other companies, offered and serviced lines of credit and installment loans over the internet to consumers throughout the United States. The CFPB’s lawsuit alleged that Think Finance, or one of its subsidiaries, illegally collected loans that were completely or partially void under the law in Arizona, Arkansas, Colorado, Connecticut, Illinois, Indiana, Kentucky, Massachusetts, Minnesota, Montana, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, and South Dakota.

Learn more about the case

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