CFPB sues installment lending conglomerate for illegally churning loans to harvest hundreds of millions in loan costs and fees
WASHINGTON, D.C. (August 22, 2023) — Today, the Consumer Financial Protection Bureau (CFPB) sued Heights Finance Holding Company, formerly known as Southern Management Corporation, a high-cost installment lender, as well as several of Heights’s subsidiaries (collectively, Southern), for illegal loan-churning practices that harvested ...