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New Day Financial settles with US CFPB for $2.25 million for luring borrowers into cash-out refinance loans

( August 29, 2024, 19:09 GMT | Official Statement) -- MLex Summary: New Day Financial has agreed to pay $2.25 million to resolve US Consumer Financial Protection Bureau allegations that it gave misleading and incomplete cost comparisons to borrowers refinancing in North Carolina, Maine, and Minnesota, which made the company’s loans appear less expensive relative to their existing mortgages.Statement and documents follow below:...

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