“The Hydra Group was operating a brazen and illegal cash-grab scam, using funds from consumers’ bank reports without their permission,” said CFPB Director Richard Cordray. “The utter neglect when it comes to legislation shown because of the Hydra Group in addition to guys managing it really is shocking, and then we are using decisive action to avoid any longer customers from being harmed.”
The CFPB’s lawsuit names Richard F. Moseley, Sr., Richard F. Moseley, Jr., and Christopher J. Randazzo, whom control the Hydra Group. The lawsuit alleges that the defendants run the company via a maze of corporate entities intended to evade oversight that is regulatory. Continue reading “CFPB Sues On The Web Payday Lender for Cash-Grab Ripoff; The Hydra Group Uses Phony Payday Advances to Illegally Access Consumer Bank Accounts”