CFPB v. Monster Loans and Associated Student Loan Companies

On January 9, 2020, the Bureau filed a lawsuit against Chou Team Realty, LLC f/k/a Chou Team Realty, Inc., d/b/a MonsterLoans, d/b/a Monster Loans;Lend Tech Loans, Inc.; Docu Prep Center, Inc., d/b/a DocuPrep Center, d/b/a Certified Document Center; Document Preparation Services, LP, d/b/a DocuPrep Center, d/b/a Certified Document Center; Certified Doc Prep, Inc.; Certified Doc Prep Services, LP; Assure Direct Services, Inc.; Assure Direct Services, LP; Direct Document Solutions, Inc.; Direct Document Solutions, LP; Secure Preparation Services, Inc.; Secure Preparation Services, LP; Docs Done Right, Inc.; Docs Done Right, LP; Cre8labs, Inc.; XO Media, LLC; TDK Enterprises, LLC; Bilal Abdelfattah a/k/a Belal Abdelfattah a/k/a Bill Abdel (“Bill Abdel”); Thomas “Tom” Chou; Sean Cowell; Robert Hoose; Kenneth Lawson; Eduardo “Ed” Martinez; Jawad Nesheiwat; Frank Anthony Sebreros; and David Sklar. The Bureau alleged that many of the defendants violated the Fair Credit Reporting Act (FCRA) by wrongfully obtaining consumer report information and that, in connection with the marketing and sale of student loan debt relief products and services, certain defendants charged unlawful advance fees and engaged in deceptive acts and practices. The complaint also alleged that certain entities and individuals are liable as relief defendants because they received profits resulting from the illegal conduct.