‘Pension advance’ company is unmasked

Source: David Lazarus, Los Angeles Times (Paid Registration)

It was an unusual lawsuit. A mysterious business, identifying itself only as “John Doe Company” and “organized under the laws of the State of California,” sued the Consumer Financial Protection Bureau in January to keep its name and a pending investigation under wraps.The company claimed in the suit that its operations “would be irreversibly damaged” if the public were to learn it was under scrutiny for possibly “unfair, deceptive, abusive and illegal” practices.

John Doe lost its case and the CFPB wasted no time in unmasking the company last week.

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