The Federal Trade Commission expanded its case against an allegedly deceptive payday lender, charging that it sought to unfairly and deceptively manipulate the legal system and force debt-burdened consumers throughout the country to travel to South Dakota and appear before a tribal court that did not have jurisdiction over their cases. In an amended complaint, […]
Tag Archives: payday lending Consumer Protection
FTC Settlement Bans Billing Scheme Operators from Negative-Option Sales
The Federal Trade Commission has stopped an operation that targeted payday loan seekers and charged them for worthless programs without their consent. A settlement order, reached as part of the FTC’s ongoing efforts to stamp out online fraud, requires the defendants to pay more than $9.9 million and bans them from marketing negative-option programs, which […]
Court Rules in Favor of FTC; Orders Defendants in Payday Lending Case to Pay More Than $294,000 for Illegal Garnishment of Consumers’ Paychecks
At the request of the Federal Trade Commission, a federal court has ordered one of the individuals behind a payday lending scheme and two companies he controlled to pay $294,536 for illegally trying to garnish borrowers’ wages, and for using other illegal debt-collection practices. The Order bans Joe S. Strom and two companies he controls […]
Consumer Reporting Agency to Pay $1.8 Million for Fair Credit Reporting Act Violations
Teletrack, Inc. has agreed to pay $1.8 million to settle Federal Trade Commission charges that it sold credit reports to marketers, in violation of the Fair Credit Reporting Act (FCRA). This settlement seeks to protect consumers’ privacy by ensuring that their sensitive credit report information is not sold for marketing purposes. According to the FTC’s […]
Loan Pitchman Permanently Banned from Telemarketing
The telemarketing business will be permanently off limits to a deceptive pitchman whom the Federal Trade Commission sued last year for allegedly tricking consumers into paying hundreds of dollars for a credit card that could only be used to buy merchandise from his companies’ Web sites. Under a settlement order with the FTC, pitchman James […]
Internet Payday Lenders Will Pay $1 Million to Settle FTC and Nevada Charges; FTC Had Challenged Defendants’ Illegal Lending and Collection Tactics
An international Internet payday lending operation will pay $1 million to settle Federal Trade Commission and State of Nevada charges that it failed to disclose key loan terms and used unlawful debt collection tactics. The defendants operated from the United Kingdom and targeted consumers in the United States, who were misled into believing that the […]
Commission Approves Final Consent Order in the Matter of We Give Loans, Inc.; FTC Approves Final Consent Order in the Matter of American Advance.com
Commission approval of final consent orders – Following a public comment period, the Commission has approved the issuance of a final consent order in the matter concerning We Give Loans, Inc., as well as the issuance of letters to the commenters of record. The vote approving issuance of the final order was 4-0. (FTC File […]
Commission Approves Final Consent Order in the Matter of We Give Loans, Inc.; FTC Approves Final Consent Order in the Matter of American Advance.com
Commission approval of final consent orders – Following a public comment period, the Commission has approved the issuance of a final consent order in the matter concerning We Give Loans, Inc., as well as the issuance of letters to the commenters of record. The vote approving issuance of the final order was 4-0. (FTC File […]
FTC Approves Final Consent Order in Matters of CashPro, American Cash Market, Inc., and Anderson Payday Loans
Commission approval of final consent orders – Following a public comment period, the Commission has approved the issuance of final consent orders in the matters of CashPro d/b/a MakePaydayToday.com, American Cash Market, Inc., and Anderson Payday Loans. The Commission vote to approve the final orders and send responses to commenters of record was 4-0. (FTC […]