On August 22, the CFPB announced it is suing a lending company and its subsidiaries that provide installment loans as a refinance option to consumers who have difficulty paying their existing loans. According to the complaint, the Bureau claims that through an array of underwriting, sales, and servicing practices, the company would encourage consumers with limited loan options to repeatedly refinance their existing loans, securing fees with each successful round of refinancing. The CFPB alleges the company and its subsidiaries generated over 40 percent of its net revenue through the loan costs and fees it derived from “churning” consumers in repeated refinances. The complaint includes details of the sales tactics, and how a district supervisor “plainly tells their employees that if they don’t refinance their delinquent customers, they’re not going to meet their monthly growth goals.” In addition, the company allegedly marketed the option to refinance existing loans as a “fresh start” and “solution” to their problems. The Bureau alleges that the company violated CFPA and engaged in unfair and abusive acts and practices.