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Consumer protection bureau fines payday lender Cash America $19 million

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Payday lending company Cash America is accused of robo-signing, overcharging military members and impeding a federal investigation.

This week the Consumer Financial Protection Bureau announced a $19 million settlement with payday lending company Cash America.

Among other things, the company overcharged customers, including military members, who used its services. It's the first CFPB taken against a payday lender. The company's lending practices affected more than 14,000 people.

Danielle Douglas, who wrote about the settlement for the Washington Post, joins the show with more. 


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