Washington, D.C. – Today, the Consumer Financial Protection Bureau and the New York Attorney General sued RD Legal Funding, LLC, related entities, and company founder Roni Dersovitz.
The lawsuit alleges that the company scammed 9/11 first responders, including those with cancer, as well as NFL athletes who sustained concussions. The suit details the alleged scheme to con the individuals with advances on settlement payouts by lying about the terms of the deal.
Rohit Chopra, Senior Fellow at the Consumer Federation of America, issued the following statement:
“Gone are the days when the financial services industry was dominated by hometown banks that served customers well and gave their kids a lollipop. Today, nonbank financial companies offer products to millions of consumers.
Americans need a strong consumer agency to restore law and order to the financial services industry. This oversight isn’t just a win for consumers, it’s a win for every lender who shouldn’t have to compete against fraudsters.
Efforts to undermine or repeal the consumer agency are nothing more than a big gift to scammers and predatory lenders.”
The Consumer Financial Protection Bureau’s complaint is available here.
Contact: Rohit Chopra, 202-939-1018, rchopra@consumerfed.org
The Consumer Federation of America is an association of more than 250 non-profit consumer groups that, since 1968, has sought to advance the consumer interest through research, education, and advocacy.