Structured settlement purchase firm JG Wentworth pushes back against CFPB

In yet another sign the structured settlement purchasing profession is in the regulatory cross hairs, the Consumer Financial Protection Bureau, CFPB, recently filed a complaint and action against settlement purchasing giant JG Wentworth. The allegation as described in the complaint is that Wentworth's method of solicitation and purchase of structured settlement cash flows is deceptive and harmful to consumers. 

JG Wentworth has fired back with their own defense that the CFPB is outside it's jurisdiction, and that much like it's prior attack on for profit colleges, the CFPB will lose this case as well. The Settlement Channel and The Legal Broadcast Network will continue to monitor the case and report as events unfold.