CFPB v. New Day Financial, LLC

New Day Financial, LLC allegedly engaged in deceptive acts and practices in violation of the Consumer Financial Protection Act of 2010. According to CFPB, NewDay USA consistently misstated in the net benefit worksheets provided to borrowers in North Carolina and Maine up through 2020, and Minnesota up through 2018, how borrowers’ “previous” monthly mortgage payment would compare to the “new” monthly mortgage payment after refinancing with NewDay USA.

Summary generated from official Consumer Financial Protection Bureau press release