Business ProfileforSL Finance

The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.

On October 5, 2023, SL Finance LLC, Michael Castillo, and Christian Castillo entered into a Stipulation to Entry of (Proposed) Order for Permanent Injunction, Monetary Relief and Other Relief with the Federal Trade Commission. The Order settles allegations that the business violated federal law prohibiting deceptive representation, advance fee for debt relief services, material debt relief misrepresentation, violating the national do not call registry, failing to pay national registry fees, misrepresentations associated with a Government Benefit related to COVID-19, and use of false, fictitious, or fraudulent statements to obtain or attempt to obtain customers' customer information of a financial institution. Under terms of the Order, the business was ordered to ban on secured and unsecured debt relief products and services, prohibition against misrepresentations relating to any products or services, prohibition against unsubstantiated claims, prohibition against obtaining customer information by false pretenses, and prohibition against abusive telemarketing practices. It is further ordered that SL Finance LLC, Michael Castillo, and Christian Castillo must jointly and severally pay $5,798,946.32 as monetary relief.

This action is final.