THE BURNED OVER DISTRICT

In this world there are all manner of slime, much of it natural, and the worst forms tend to be man-made. The lowest of the low might well be Rome Finance also known as Colfax Capital Corp. and Culver Capital. Following a much too long history of preying on members of the military, The Consumer Financial Protection Bureau has brought them to bay.

At first glance, the loans advertised by Rome Finance looked like a good deal for service members who wanted to buy new video game consoles, laptops or flat-screen TVs but didn’t have the cash.

The Concord, Calif., company offered special “military financing” to troops: no money down and instant financing on pricey electronics and other goods sold at mall kiosks near military bases.

But a federal consumer watchdog agency says Rome Finance _ also known as Colfax Capital Corp. and Culver Capital _ was profiting from a predatory lending scheme at the expense of military personnel, thousands of whom ended up being hounded to repay debts they didn’t legally owe.

The Consumer Financial Protection Bureau announced Tuesday that more than 17,800 service members who were victimized by the scheme would receive a total of $92 million in debt relief from Rome Finance.

“Rome Finance’s business model was built on fleecing service members,” Richard Cordray, said director of the bureau, in a statement. “Today, their long run of picking the pockets of our military has come to an ignominious end.”

The company couldn’t immediately be reached for comment Tuesday.

The bureau reached a settlement with the company in coordination with 13 states’ attorneys general in Colorado, Delaware, Florida, Georgia, Indiana, Iowa, Kentucky, Massachusetts, Michigan, New York, North Carolina, Tennessee and Vermont.

Kentucky Attorney General Jack Conway said in a statement Tuesday that the predatory actions by Rome Finance were unconscionable.

“I’m pleased that this resolution will provide military members here in Kentucky and across the country with the financial relief they are owed,” he said.

Conway said 228 Kentucky service members would receive a total of $1.2 million in debt relief through the settlement. In Florida, more than 800 service members will receive $4 million.

“Our military members sacrifice so much for us, and we will not allow predatory lenders to deceive them,” Florida Attorney General Pam Bondi said in a statement Tuesday.

More than 1,300 North Carolina military service members _ many of whom took out loans from Rome Finance to buy electronics from Fayetteville-based retailer SmartBuy_will have their credit cleared and $6.8 million in debts forgiven, the state’s attorney general said Tuesday.

It remains to be seen which Republican/Teabagger will step forward as Rome Financial's champion.