The Consumer Financial Protection Bureau issued a consent order Tuesday against a debt collector and its owner for harassing thousands of consumers, falsely threatening them with legal action.
The CFPB found that Yorba Capital Management and its former owner, Daniel Portilla Jr., violated federal law. The order bans Yorba and Portilla from the debt collection business, and orders restitution and penalties.
“Debt collectors often run afoul of consumer law when they coerce consumers to pay them by exaggerating the consequences of not paying,” said CFPB Acting Director David Uejio.
