The CFPB announced that it has entered into
a consent order to settle the CFPB’s allegations that a debt collector, Yorba Capital Management, LLC (Yorba), and its owner, Daniel Portilla, Jr., violated the Consumer Financial Protection Act and that Yorba violated the Fair Debt Collection Practices Act. The consent order permanently bans both Yorba and Mr. Portilla from the debt collection business and orders Yorba and Mr. Portilla to pay consumer redress of $860,000 and a civil money penalty. However, due to the respondents’ limited financial resources, the order suspends full payment of the $860,000 judgment upon their payment of a $2,200 civil money penalty.
On March 11, 2021, the Consumer Financial Protection Bureau ("CFPB" or "Bureau") rescinded its January 24, 2020 Statement of Policy Regarding Prohibition on Abusive Acts or Practices .