CFPB hits credit repair execs for $2M over illegal fees

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The Consumer Financial Protection Bureau said Tuesday that three executives who operated former credit repair companies agreed to pay roughly $2 million in penalties for charging consumers millions in illegal advance fees.

Blake Johnson, the former owner of Commercial Credit Consultants, Prime Credit and IMC Capital, and Eric Schlegel, a former president, agreed to pay $1.5 million for charging illegal fees and falsely claiming they could fix consumers’ credit reports, the CFPB said.

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