Justice Department, Consumer Financial Protection Bureau Sue Texas-Based Developer, Lender Colony Ridge for Bait-and-Switch Land Sales and Predatory Financing
December 21, 2023
December 21, 2023
WASHINGTON, Dec. 21 -- The U.S. Department of Justice issued the following news release on Dec. 20, 2023:
The Justice Department and Consumer Financial Protection Bureau (CFPB) today sued Colony Ridge, a Texas-based developer and lender, for operating an illegal land sales scheme and targeting tens of thousands of Hispanic borrowers with false statements and predatory loans.
"Today's complaint alleges that Colony Ridge targeted Hispanic consumers with predatory loa . . .
The Justice Department and Consumer Financial Protection Bureau (CFPB) today sued Colony Ridge, a Texas-based developer and lender, for operating an illegal land sales scheme and targeting tens of thousands of Hispanic borrowers with false statements and predatory loans.
"Today's complaint alleges that Colony Ridge targeted Hispanic consumers with predatory loa . . .