Meracord LLC and Linda Remsberg
Documents in this case
- Complaint · · 6 p.
- Consent order · · 10 p.
Case summary
The CFPB took action against Meracord LLC, a leading debt-settlement payment processor, for allegedly helping others to collect millions of dollars in illegal upfront fees from consumers. The Bureau has asked a federal district court to approve a consent order that would require Meracord and its CEO and owner, Linda Remsberg, to halt all illegal activities and to pay a $1.376 million civil penalty.
Complaint ()
PDF of this document (6 pages)
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COMPLAINT – 1 Consumer Financial Protection Bureau
1700 G Street, NW
Washington, DC 20552
202-435-7598 ● FAX 202-435-7722
UNITED STATES DISTRICT COURT WESTERN DISTRICT OF WASHINGTON AT TACOMA
Consumer Financial Protection Bureau,
Plaintiff,
COMPLAINT v.
Meracord LLC and Linda Remsberg,
Defendants.
Introduction The Consumer Financial Protection Bureau (the Bureau) brings this action against Meracord LLC (Meracord) and Linda Remsberg, its president, CEO, and controlling shareholder, under the Consumer Financial Protection Act of 2010 (CFPA), 12 U.S.C. §§ 5531(a), 5536(a), 5564(a), and the Telemarketing and Consumer Fraud and Abuse Prevention Act, 15 U.S.C. §§ 6102(c)(2), 6105(d), based on violations of the Telemarketing Sales Rule (TSR), 16 C.F.R. pt. 310, and sections 1031(a) and 1036(a) of the CFPA. In particular, this action is based on Meracord’s facilitation of TSR violations by debt-relief service providers (DRSPs) with which it does business.
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COMPLAINT – 2 Consumer Financial Protection Bureau
1700 G Street, NW
Washington, DC 20552
202-435-7598 ● FAX 202-435-7722
Jurisdiction and Venue 1.
This Court has subject-matter jurisdiction because this action is brought under a federal consumer-financial law, 12 U.S.C. § 5565(a)(1), presents a federal question, 28 U.S.C. § 1331, and is brought by an agency of the United States, 28 U.S.C. § 1345. 2.
Venue is proper in this district because a substantial part of the events or omissions giving rise to the claims occurred here, Meracord is located and does business here, and Meracord and Remsberg reside here. 28 U.S.C. § 1391(b)(1)-(2); 12 U.S.C. § 5564(f). Parties 3.
The Bureau is an agency of the United States. 12 U.S.C. § 5491(a). It has independent litigating authority, 12 U.S.C. § 5564(a)-(b), including the authority to enforce the TSR as it applies to persons subject to the CFPA, 12 U.S.C. § 5531(a); 15 U.S.C. §§ 6102(c)(2), 6105(d). 4.
As a significant part of its business, Meracord offers and provides account-maintenance and payment-processing services to DRSPs and consumers. These services are consumer-financial services under the CFPA. 12 U.S.C. § 5481(5), (15)(A)(iv), 15(A)(vii), 15(A)(viii)(II). Meracord is therefore a “covered person.” 12 U.S.C. § 5481(6).
5.
Remsberg is Meracord’s president, CEO, and controlling shareholder. She has managerial responsibility for Meracord and materially participates in the conduct of its affairs, including its payment-processing services for DRSPs. Remsberg is therefore a “related person” under the CFPA. 12 U.S.C. § 5481(25)(C)(i)-(ii).
Facts 6.
In exchange for a fee, DRSPs promise to help consumers reduce or eliminate their unsecured debts.
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COMPLAINT – 3 Consumer Financial Protection Bureau
1700 G Street, NW
Washington, DC 20552
202-435-7598 ● FAX 202-435-7722
7.
Generally, when consumers enroll in a debt-relief program, they also enter into a separate agreement with a payment processor, which establishes and maintains a “dedicated account” for the consumer.
8.
At the time of enrollment, the DRSP instructs the consumer to stop paying his or her unsecured debts and, instead, to make monthly payments to the payment processor. 9.
These monthly payments cover three things: (i) the DRSP’s fee for debt-relief services, (ii) the payment processor’s fee for account-maintenance services, and (iii) the consumer’s savings, which are set aside for future settlements of the consumer’s debts, as negotiated by the DRSP. 10. Since October 27, 2010, Meracord processed payments for more than 250,000 consumers receiving debt-relief services from more than 250 DRSPs, including Payday Loan Debt Solution, Inc., American Debt Settlement Solutions, Inc., Mission Settlement Agency, the Law Office of Michael Levitis, Premier Consulting Group, LLC, the Law Office of Michael Lupolover, E.M.A. Nationwide, Inc., New Life Financial Solutions, Inc., and 1UC Inc. 11. Each month, in amounts directed by DRSPs, Meracord withdrew funds from consumers’ bank accounts and deposited them into their dedicated accounts. Meracord then transmitted funds from the dedicated accounts to the DRSPs to cover their debt-relief fees and to itself to cover its account-maintenance fees. When instructed by DRSPs, Meracord transmitted funds from consumers’ dedicated accounts to their unsecured creditors. 12. Since October 27, 2010, the TSR has prohibited DRSPs from charging fees before consumers’ debts are settled. Specifically, the TSR has banned DRSPs from requesting or receiving fees from a consumer for debt-relief services before (i) the DRSP has renegotiated, settled, reduced, or otherwise altered the terms of at least one of the consumer’s debts and (ii) the consumer has Case 3:13-cv-05871 Document 1 Filed 10/03/13 Page 3 of 6
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COMPLAINT – 4 Consumer Financial Protection Bureau
1700 G Street, NW
Washington, DC 20552
202-435-7598 ● FAX 202-435-7722
made at least one payment pursuant to a debt-settlement agreement or other contractual arrangement between the consumer and one of his or her creditors. See 16 C.F.R. § 310.4(a)(5)(i). 13. Account records obtained from Meracord demonstrate that many of the DRSPs for which it processed payments routinely charged advance fees for debt-relief services in violation of the TSR.
14. According to those same records, since October 27, 2010, Meracord processed payments for more than 11,000 consumers who were charged one or more fees for debt-relief services before any of their debts were actually settled; 4,922 of those consumers’ accounts were closed without any of their debts being settled.
15. For each of its consumers who were charged unlawful advance fees, Meracord was responsible for actually transmitting, and did transmit, the fees from the consumer’s dedicated account to his or her DRSP.
16. At the time Meracord transmitted these fees, it knew, based on its own account records, that it had not yet transmitted funds from the consumer’s account to one of his or her creditors. Meracord thus knew that it was transmitting advance fees to DRSPs that had not yet settled consumers’ debts and that were not entitled to advance fees. 17. As Meracord’s president, CEO, and sole owner, Remsberg is intimately familiar with Meracord’s corporate affairs. She actively participates in Meracord’s payment-processing business for DRSPs. Remsberg also has personally profited from Meracord’s wrongdoing: over the last several years, Meracord has paid Remsberg considerable amounts in income and disbursements. 18. Remsberg should have known that Meracord provided substantial assistance to its DRSP partners by processing payments on their behalf and that its DRSP partners were charging and collecting unlawful advance fees.
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COMPLAINT – 5 Consumer Financial Protection Bureau
1700 G Street, NW
Washington, DC 20552
202-435-7598 ● FAX 202-435-7722
Count One (Meracord’s Violations of the TSR and the CFPA)
19. The allegations in paragraphs 1-18 are incorporated here by reference. 20. Meracord provided substantial assistance to its DRSP partners by processing payments on their behalf.
21. Meracord knew or consciously avoided knowing that its DRSP partners were charging and collecting advance fees in violation of the TSR. 22. Meracord’s conduct violated the TSR’s ban on assisting and facilitating others’ violations of that rule. 16 C.F.R. § 310.3(b). 23. Because Meracord is a “covered person,” its conduct is unlawful under sections 1031(a) and 1036(a)(1) of the CFPA, 12 U.S.C. §§ 5531(a), 5536(a)(1). Count Two (Remsberg’s Violations of the TSR and CFPA)
24. The allegations in paragraphs 1-18 are incorporated here by reference. 25. Because she is a “related person,” Remsberg is deemed a “covered person” for purposes of the CFPA. 12 U.S.C. § 5481(25).
26. Remsberg is liable for violations of the TSR, 16 C.F.R. § 310.3(b), and sections 1031(a) and 1036(a)(1) of the CFPA, 12 U.S.C. §§ 5531(a), 5536(a)(1). Demand for Relief
Wherefore, the Bureau requests that the Court, as permitted by 12 U.S.C. § 5565: 1.
permanently enjoin Meracord and Remsberg from committing future violations of the CFPA, 12 U.S.C. §§ 5531, 5536, the TSR, 16 C.F.R. pt. 310, or any other provision of federal consumer-financial law, as defined by 12 U.S.C. § 5481(14); 2.
grant additional injunctive relief as the Court may deem to be just and proper; Case 3:13-cv-05871 Document 1 Filed 10/03/13 Page 5 of 6
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COMPLAINT – 6 Consumer Financial Protection Bureau
1700 G Street, NW
Washington, DC 20552
202-435-7598 ● FAX 202-435-7722
3.
award damages or other monetary relief against Meracord and Remsberg; 4.
award restitution against Meracord and Remsberg in the amount of all fees collected from consumers in violation of the TSR’s advance-fee ban; 5.
order disgorgement of ill-gotten profits against Meracord and Remsberg; 6.
award civil money penalties against Meracord and Remsberg; 7.
award costs against Meracord and Remsberg; and 8.
award additional relief as the Court may determine to be just and proper.
Respectfully submitted,
Lucy Morris
Deputy Enforcement Director
s/Jeffrey Paul Ehrlich_______________
Jeffrey Paul Ehrlich (FL Bar No. 51561)
J.H. Jennifer Lee Meredith B. Osborn Enforcement Attorneys Consumer Financial Protection Bureau 1700 G Street, NW Washington, DC 20552 Telephone: (202) 435-7598 Facsimile: (202) 435-7722 e-mail: [email protected] Attorneys for Consumer Financial Protection Bureau Case 3:13-cv-05871 Document 1 Filed 10/03/13 Page 6 of 6
Consent order ()
PDF of this document (10 pages)
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STIPULATED FINAL JUDGMENT AND ORDER - 1
Consumer Financial Protection Bureau 1700 G Street, NW Washington, DC 20552 202-435-7598 ● FAX 202-435-7722
IN THE UNITED STATES DISTRICT COURT FOR THE WESTERN DISTRICT OF WASHINGTON AT TACOMA
Consumer Financial Protection Bureau,
Plaintiff,
vs.
Meracord LLC and Linda Remsberg,
Defendants.
Case No. 3:13-cv-05871
STIPULATED FINAL JUDGMENT AND CONSENT ORDER
The Consumer Financial Protection Bureau (“Bureau”) commenced this civil action to obtain injunctive and monetary relief and civil penalties, from Meracord LLC (“Meracord”) and its president and CEO, Mrs. Linda Remsberg (collectively, “Defendants”). The Complaint alleges violations of the Telemarketing Sales Rule (TSR), 16 C.F.R. pt. 310, and sections 1031(a) and 1036(a) of the Consumer Financial Protection Act of 2010 (CFPA), 12 U.S.C. §§ 5531(a), 5536(a). The Parties, by and through respective counsel, agree to the entry of this Stipulated Final Judgment and Consent Order (“Consent Order”). Defendants have agreed to waive: service of the Complaint and Summonses; any right to seek judicial review or to otherwise challenge or contest the validity of this Consent Order; and any right that may arise in this case under the Equal Access to Justice Act, 28 U.S.C. § 2412.
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STIPULATED FINAL JUDGMENT AND ORDER - 2
Consumer Financial Protection Bureau 1700 G Street, NW Washington, DC 20552 202-435-7598 ● FAX 202-435-7722
The Parties having requested the entry of this Consent Order, it is therefore ORDERED, ADJUDGED, and DECREED as follows:
Findings 1.
The Bureau is an agency of the United States. 12 U.S.C. § 5491(a). It has independent litigating authority, 12 U.S.C. § 5564(a)-(b), including the authority to enforce the TSR as it applies to persons subject to the CFPA, 12 U.S.C. § 5531(a); 15 U.S.C. §§ 6102(c)(2), 6105(d). 2.
Prior to June 2013, Meracord maintained accounts and processed payments for consumers who had contracted with providers of Debt Relief Services and Mortgage Assistance Relief Services. These services were consumer-financial services under the CFPA, 12 U.S.C. § 5481(5), (15)(A)(iv), 15(A)(vii), (15)(A)(viii)(II), and Meracord is therefore a “covered person,” 12 U.S.C. § 5481(6).
3.
Mrs. Remsberg is Meracord’s president, CEO, and sole shareholder. She has managerial responsibility for Meracord and materially participates in the conduct of its affairs. Mrs. Remsberg is therefore a “related person” under the CFPA, 12 U.S.C. § 5481(25)(C)(i)-(ii), and deemed a “covered person.” 12 U.S.C. § 5481(25)(B).
4.
This Court has subject-matter jurisdiction over the Bureau’s claims because they are brought under Federal consumer financial law, 12 U.S.C. § 5565(a)(1), present a federal question, 28 U.S.C. § 1331, and are brought by an agency of the United States, 28 U.S.C. § 1345. 5.
Venue is proper in this district because a substantial part of the alleged events or omissions giving rise to the claims occurred here, Meracord is located and does business here, and Meracord and Mrs. Remsberg reside here.
6.
The Complaint states claims upon which relief can be granted for Defendants’ violations of the TSR’s assisting-and-facilitating provision, 16 C.F.R. § 310.3(b), and sections 1031(a) and 1036(a)(1) of the CFPA, 12 U.S.C. §§ 5531(a), 5536(a)(1). Case 3:13-cv-05871-RBL Document 7 Filed 10/04/13 Page 2 of 10
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STIPULATED FINAL JUDGMENT AND ORDER - 3
Consumer Financial Protection Bureau 1700 G Street, NW Washington, DC 20552 202-435-7598 ● FAX 202-435-7722
7.
Between approximately October 27, 2010 and July 2013, Debt Relief Service providers charged at least $11,527,567.26 in alleged unlawful advance fees in transactions in which Meracord acted as a third-party account administrator.
8.
Subject to the terms and conditions of this Consent Order, the Bureau and Defendants agree to entry of this Consent Order, without trial or final adjudication of any issue of fact or law, to settle and resolve all matters arising out of or relating to the conduct within the scope of the release defined in paragraph 36 to the date this Consent Order is entered (hereinafter “Effective Date”). Defendants do not admit or deny any of the allegations, findings, or assessments set forth in the Complaint. Notwithstanding any other provision of this Consent Order, for the reasons stated in paragraph 5, Defendants consent and agree that venue and personal jurisdiction are proper in this district.
9.
The relief provided by this Consent Order is appropriate and available under sections 1054 and 1055 of the CFPA, 12 U.S.C. §§ 5564, 5565. 10.
Entry of this Consent Order is in the public interest.
Definitions 11.
For purposes of this Consent Order, “Debt Relief Service” shall mean any program or service represented, directly or by implication, to renegotiate, settle, or in any way alter the terms of payment or other terms of the debt between a person and one or more unsecured creditors or debt collectors, including but not limited to a reduction in the balance, interest rate, or fees owed by a person to an unsecured creditor or debt collector.
12.
For purposes of this Consent Order, “Mortgage Assistance Relief Service” shall mean any product, service, plan, or program, offered or provided to a consumer in exchange for consideration that is represented, expressly or by implication, to assist or attempt to assist the consumer with any of the following: (a) stopping, preventing, or postponing any mortgage or deed Case 3:13-cv-05871-RBL Document 7 Filed 10/04/13 Page 3 of 10
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Consumer Financial Protection Bureau 1700 G Street, NW Washington, DC 20552 202-435-7598 ● FAX 202-435-7722
of trust foreclosure sale for the consumer’s dwelling, any repossession of the consumer’s dwelling, or otherwise saving the consumer’s dwelling from foreclosure or repossession; (b) negotiating, obtaining, or arranging a modification of any term of dwelling loan, including a reduction in the amount of interest, principal balance, monthly payments, or fees; (c) obtaining any forbearance or modification in the timing of payments from any dwelling loan holder or servicer on any dwelling loan; (d) negotiating, obtaining, or arranging any extension of the period of time within which the consumer may cure his or her default on a dwelling loan, reinstate his or her dwelling loan, redeem a dwelling, or exercise any right to reinstate a dwelling loan or redeem a dwelling; (e) obtaining any waiver of an acceleration clause or balloon payment contained in any promissory note or contract secured by any dwelling; or (f) negotiating, obtaining, or arranging a short sale of a dwelling, a deed in lieu of foreclosure, or any other disposition of a dwelling other than a sale to a third party that is not the dwelling loan holder. “Mortgage Assistance Relief Service” shall include any manner of claimed assistance, including, but not limited to, auditing or examining a consumer’s mortgage or home-loan application.
13.
For purposes of this Consent Order, the term “Related Consumer Action” shall mean a private action brought by or on behalf of a consumer, or an enforcement action by another governmental entity, against Meracord or Mrs. Remsberg based on substantially the same facts as alleged in the Complaint.
Consent Order A.
Injunctive Relief 14.
Defendants are permanently enjoined from providing account-maintenance or payment-processing services to any provider of a Debt Relief Service or a Mortgage Assistance Relief Service.
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STIPULATED FINAL JUDGMENT AND ORDER - 5
Consumer Financial Protection Bureau 1700 G Street, NW Washington, DC 20552 202-435-7598 ● FAX 202-435-7722
B.
Civil Money Penalty 15.
By reason of Defendants’ alleged unlawful practices as plead in the Complaint and based on the factors in section 1055(c)(3) of the CFPA, 12 U.S.C. § 5565(c)(3), a judgment for a civil money penalty is entered in favor of the Bureau and against Defendants, jointly and severally, in the amount of $1,376,000.00. Payment of this amount shall be made by wire transfer to the Bureau according to instructions to be provided by the Bureau. 16.
Defendants shall pay this amount according to the following schedule:
(a) by December 31, 2013, $555,000;
(b) by December 31, 2014, $325,000;
(c) by December 31, 2015, $325,000; and
(d) by December 31, 2016, $171,000.
17.
The Bureau shall deposit those funds into the Civil Penalty Fund administered by the Bureau under section 1017(d) of the CFPA, 12 U.S.C. § 5497(d). 18.
This civil penalty shall be treated as a penalty paid to the government for tax purposes. Defendants shall not claim, assert, or apply for a tax deduction or tax credit with regard to any federal, state, or local tax for any amounts that Defendants pay under this Consent Order. C.
Other Monetary Provisions 19.
In the event of any default on Defendants’ obligations to make any payment under this Consent Order, interest, computed under 28 U.S.C. § 1961, as amended, shall accrue on any outstanding amounts not paid from the date of default to the date of payment, and shall immediately become due and payable.
20.
Defendants shall relinquish all dominion, control, and title to the funds paid to the fullest extent permitted by law and no part of the funds shall be returned to Defendants. Case 3:13-cv-05871-RBL Document 7 Filed 10/04/13 Page 5 of 10
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STIPULATED FINAL JUDGMENT AND ORDER - 6
Consumer Financial Protection Bureau 1700 G Street, NW Washington, DC 20552 202-435-7598 ● FAX 202-435-7722
21.
In accordance with 31 U.S.C. § 7701, Defendants shall furnish to the Bureau their taxpayer-identification numbers, which shall be used for purposes of collecting and reporting on any delinquent amounts arising out of this Consent Order. 22.
Within 30 days of the entry of a final judgment, consent order, or settlement in a Related Consumer Action, Meracord or Mrs. Remsberg, as applicable, shall notify the Bureau of the final judgment, consent order, or settlement in writing. That notification shall indicate the amount of redress, if any, that Meracord or Mrs. Remsberg paid or may be required to pay to consumers and describe the consumers or classes of consumers to whom redress will be paid. 23.
Defendants agree that under section 604(a)(1) of the Fair Credit Reporting Act, 15 U.S.C. § 1681b(a)(1), the Bureau may obtain from any consumer reporting agency a consumer report concerning any Defendant. The Bureau may use any such report to collect on and report any amount not paid as required by this Consent Order.
24.
Each party shall bear its own costs and fees arising from this matter. D.
Cooperation with Bureau Counsel 25.
In connection with this action, or any subsequent matter related to the conduct described in the Complaint, Defendants shall cooperate in good faith with the Bureau and appear at such places and times as the Bureau shall reasonably request, after written notice, for interviews, conferences, pretrial discovery, review of documents, and for such other matters as may be reasonably requested by the Bureau. Specifically, Defendants shall assist the Bureau in determining the identity of and amount of injury suffered by each affected consumer. E.
Compliance Monitoring 26.
For 3 years from the Effective Date, Defendants shall submit, within 14 days of receipt of a written request from the Bureau, additional compliance reports or other requested information, which shall be made under penalty of perjury, appear for depositions, and produce Case 3:13-cv-05871-RBL Document 7 Filed 10/04/13 Page 6 of 10
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Consumer Financial Protection Bureau 1700 G Street, NW Washington, DC 20552 202-435-7598 ● FAX 202-435-7722
documents. In furtherance of this requirement, the Bureau is authorized to obtain discovery, without leave of court, using any of the procedures prescribed by the Federal Rules of Civil Procedure. 27.
Meracord agrees to be subject to the Bureau’s supervisory authority under 12 U.S.C. § 5514 for 3 years from the Effective Date. Consistent with 12 C.F.R. § 1091.111, Meracord shall not petition for termination of supervision under 12 C.F.R. § 1091.113. 28.
For purposes of this section, the Bureau is authorized to communicate directly with Defendants through undersigned counsel.
F.
Compliance Reporting 29.
For 3 years from the Effective Date, Meracord shall submit a compliance notice, under penalty of perjury, within 14 days of: (a) any change in corporate structure that may affect its compliance with this Consent Order, including a dissolution, assignment, sale, merger, or other action that would result in the emergence of a successor entity; (b) the creation or dissolution of a subsidiary, parent, or affiliate that engages in account-maintenance or payment-processing activities; or (c) the filing of any bankruptcy petition or proceeding by or against Meracord. Further, in the case of a change in Meracord’s name or address, such notice shall be provided at least 30 days before the change.
30.
For 3 years from the Effective Date, Mrs. Remsberg shall submit a compliance notice, under penalty of perjury, within 14 days of: (a) any change in residence address; (c) any change in title or ownership interest in any business, identifying for each its name, physical address, and Internet address; or (c) the filing of any bankruptcy petition or proceeding by or against Mrs. Remsberg.
31.
For purposes of this Consent Order, unless otherwise directed by the Bureau, Defendants shall send by overnight delivery all reports and notifications required by this Consent Order to the Bureau to the following address:
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STIPULATED FINAL JUDGMENT AND ORDER - 8
Consumer Financial Protection Bureau 1700 G Street, NW Washington, DC 20552 202-435-7598 ● FAX 202-435-7722
Assistant Director for Enforcement Consumer Financial Protection Bureau ATTENTION: Office of Enforcement 1700 G Street, N.W.
Washington D.C. 20552 RE: CFPB v. Meracord, Matter No. 2011-0112-02 32.
In lieu of overnight delivery, Defendants may send such reports or notifications by first-class mail, but only if Defendants contemporaneously send an electronic version of such report or notification to the Bureau at [email protected]. G.
Recordkeeping 33.
For 3 years from the Effective Date, Meracord shall maintain and make available to the Bureau upon request the following records relating to third-party administration services to consumers: (a) accounting records showing the revenues from all goods or services sold, all costs incurred in generating those revenues, and the resulting net profit or loss; (b) personnel records showing, for each person providing services, whether as an employee or otherwise, that person’s name, addresses, telephone numbers, job title or position, dates of service, and, if applicable, the reason for termination; (c) consumers’ files containing the names, addresses, phone numbers, and amounts paid, to the extent such information is obtained in the ordinary course of business; (d) complaints and refund requests (whether received directly, indirectly, or through any third party) and any responses to those complaints or requests; (e) copies of all sales scripts, training materials, advertisements, direct mail solicitations, contracts sent to consumers, or other marketing materials; and (f) all records and documents necessary to demonstrate full compliance with each provision of this Consent Order, including all submissions to the Bureau. H.
Order Distribution and Acknowledgement 34.
Within 30 days of the Effective Date, Meracord shall deliver a copy of this Consent Order to each of its officers, directors, supervisors, and managers. Case 3:13-cv-05871-RBL Document 7 Filed 10/04/13 Page 8 of 10
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Consumer Financial Protection Bureau 1700 G Street, NW Washington, DC 20552 202-435-7598 ● FAX 202-435-7722
35.
Within 30 days of the Effective Date, Meracord shall secure from all persons receiving a copy of this Consent Order under this section a signed and dated statement acknowledging receipt of a copy of this Consent Order, with any electronic signatures complying with the requirements of the E-Sign Act, 15 U.S.C. §§ 7001-06. I.
Scope of Consent Order 36.
The Bureau releases and discharges the Defendants from all potential liability for any causes of action or claims that have been or might have been asserted by the Bureau based on the practices alleged in the Complaint or conduct related to Debt Relief Service or Mortgage Assistance Relief Service, to the extent such practices or conduct are known to the Bureau as of the Effective Date. No part of this Consent Order, including any findings or characterizations of the Defendants’ obligations, shall constitute an admission of any fact, other than jurisdictional facts, or of liability, fault, or wrongdoing by Defendants.
J.
Retention of Jurisdiction 37.
The Court shall retain jurisdiction of this matter for purposes of construction, modification, and enforcement of this Consent Order.
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STIPULATED FINAL JUDGMENT AND ORDER - 10
Consumer Financial Protection Bureau 1700 G Street, NW Washington, DC 20552 202-435-7598 ● FAX 202-435-7722
SO STIPULATED:
_s/ Jeffrey Paul Ehrlich________________________ Jeffrey Paul Ehrlich Attorney for Consumer Financial Protection Bureau
_10/3/2013__ Date
_s/ Linda Remsberg___________________________ Mrs. Linda Remsberg, individually and on behalf of Meracord LLC
_10/3/2013__ Date
_s/ Angelo J. Calfo____________________________ Angelo J. Calfo Calfo Harrigan Leyh & Eakes LLP Attorneys for Mrs. Linda Remsberg and Meracord LLC
_10/3/2013__ Date
IT IS SO ORDERED
DATED this 4th day of October, 2013.
A RONALD B. LEIGHTON UNITED STATES DISTRICT JUDGE
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