CFPB v. Morgan Drexen, Inc. and Walter Ledda
The Consumer Financial Protection Bureau, or CFPB, sued Morgan Drexen and its owner Walter Ledda in 2013 for charging illegal upfront fees for debt relief services and not describing their services accurately.
The court found that the company violated federal law, prohibited Morgan Drexen from collecting any further fees from its customers, and ordered Morgan Drexen to pay a civil penalty to the CFPB.
Victim compensation
In August of 2017, the CFPB began mailing checks to eligible consumers who paid illegal upfront fees to Morgan Drexen between October 27, 2010 and June 18, 2015.
If you believe you are a victim and did not already receive a check for this case, please visit our website to submit a claim form.
The CFPB has contracted with Epiq Systems to administer payments for this case and to answer questions from consumers. For questions related to this case, please:
- Call: 1-844-616-6625
- Email: morgandrexen_info@cfpbconsumerprotection.org
- Write: CFPB v. Morgan Drexen, Civil Penalty Fund Third-Party Administrator, PO Box 3518, Portland, OR 97208-3518
Important dates
August 2017 – Ongoing: Distribution