Did Omni violate CFPA?

WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (Bureau) issued a consent order against Omni Financial of Nevada, Inc. (Omni). The Bureau found that Omni violated the Military Lending Act (MLA), Electronic Fund Transfer Act (EFTA), and Consumer Financial Protection Act of 2010 (CFPA) in connection with making installment loans.

Did Omni financial violate CFPB's Military Lending Act?

Consumer Financial Protection Bureau headquarters in Washington, March 5, 2019. Omni Financial will pay $2.175 million to resolve CFPB claims that it violated the Military Lending Act by requiring active duty service members to repay installment loans by “allotment.”

What did CFPB v Omni financial do?

CFPB v. Omni Financial of Nevada, Inc., also doing business as Omni Financial and Omni Military Loans On December 30, 2020, the Consumer Financial Protection Bureau (CFPB) issued a consent order against Omni Financial of Nevada, Inc. (Omni). Omni is an installment lender specializing in lending to military members.

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