CFPB v. DriverLoan LLC., and Angelo Jose Sarjeant
The CFPB took enforcement action against Driver Loan, LLC, and Angelo Jose Sarjeant. The CFPB alleged Driver Loan violated the Consumer Financial Protection Act by misrepresenting the risks associated with the deposit product it offered to consumers and misrepresenting the annual percentage rates associated with extensions of credit it offered to other consumers.
Driver Loan was a limited-liability company based in Doral, Florida that offered short-term, high-interest loans to consumers funded by deposits made by other consumers. The CFPB took enforcement action against Driver Loan and its CEO, Angelo Jose Sarjeant, alleging they engaged in deceptive acts or practices that violated the Consumer Financial Protection Act by misrepresenting the risks associated with the deposit product offered to consumers and by misrepresenting the annual percentage rates associated with extensions of credit it offered to other consumers.
Eligible consumers have been identified in Driver Loan’s records, which were obtained by the CFPB as part of their enforcement action. Eligible consumers deposited money with Driver Loan between June 1, 2020, and June 1, 2021. Checks for identified consumers will be mailed in late January, 2025.
Eligible individuals for whom the CFPB does not have a mailing address have an opportunity to provide us their mailing address so we can send them a check. The information provided with the Address Form will be used to match claimants to information in Driver Loan’s records. You can provide your mailing address by submitting an Address Form here.
Victim compensation
The CFPB has contracted Epiq Systems to administer payments for this case and answer consumers' questions. For questions related to this case, please:
- Visit: www.cfpb-driverloan.org
- Call: 888-884-6031, 8am-9pm EST
- Email: info@cfpb-driverloan.org
- Write: CFPB v Driver Loan, Civil Penalty Fund Third-Party Administrator, PO Box 2849, Portland, OR 97208-2849
Important dates
January 2025– Ongoing