My Loan Doctor LLC and Edgar Radjabli
On July 6, 2020, the Consumer Financial Protection Bureau (Bureau) filed a lawsuit against My Loan Doctor LLC, a Delaware financial-company operating in West Palm Beach, Florida and New York City and doing business as Loan Doctor (Loan Doctor), and its founder, Edgar Radjabli. The Bureau alleges that Loan Doctor and Radjabli made several false, misleading, and inaccurate marketing representations in advertising Loan Doctor’s “Healthcare Finance (HCF) Savings CD Account,” in violation of the Consumer Financial Protection Act’s (CFPA) prohibition against deceptive acts or practices. As the Bureau’s complaint alleges, starting in August 2019, Loan Doctor took more than $15 million from at least 400 consumers who opened and deposited money into Loan Doctor’s deceptively advertised product. The Bureau seeks redress for consumers, an injunction, and the imposition of civil money penalties.