The Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) have filed a lawsuit against Colony Ridge, a Texas developer, accusing them of engaging in illegal land sales. According to the lawsuit, Colony Ridge allegedly sold flood-prone land to unsuspecting families, without providing essential infrastructure such as water, sewer, or electrical facilities.

Key points:

– CFPB and DOJ sue Texas developer, Colony Ridge, over alleged illegal land sales
– Lawsuit claims that Colony Ridge sold flood-prone land to unsuspecting families
– Allegedly, the developer did not provide essential infrastructure such as water, sewer, or electricity to the sold properties.

This case highlights the importance of conducting thorough due diligence when purchasing property, as unsuspecting buyers are at risk of being left with unusable land due to lack of necessary infrastructure. The lawsuit aims to hold Colony Ridge accountable for its alleged actions and provide relief to affected families.

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