Curbio agreed to pay $7.5 million to settle fraud allegations, denying wrongdoing but stating the cost of legal battles would better be spent improving services.
DC Attorney General Brian Schwalb accused Curbio of defrauding homeowners by using contracts to exploit home equity for minor infractions and acting as an unlicensed lender.
Under the settlement, Curbio must increase disclosures, remove misleading marketing statements, and eliminate restrictive covenants in customer contracts to ensure fair practices.
The settlement will distribute $2.58 million to prior customers, $920,000 to those with ongoing balances, and $4 million to the District of Columbia.
Collection
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