Texas Lender Colony Ridge Sued By CFPB, DOJ
The Consumer Financial Protection Bureau and the U.S. Department of Justice are suing developer and lender Colony Ridge, alleging it targeted Hispanic borrowers with “bait-and-switch” land sales and predatory loans. The lawsuit claims Colony Ridge gave borrowers inaccurate information about homesites and coerced them into loans they could not afford, according to the CFPB’s press…