FTC Mailing 72,386 Checks Totaling $2.9 Million to individuals who Lost Money in Alleged Payday Loan Scheme
On February 15, 2018, the Federal Trade Commission announced it is mailing 72,836 checks totaling significantly more than $2.9 million to those who destroyed cash to an so-called scheme that trapped them into pay day loans they never authorized or whoever terms had been misleading.
Based on the FTC, CWB Services, LLC and associated defendants used consumer information from online lead generators and information agents to generate fake cash advance agreements. After depositing cash into peopleвЂ™s records without their permission, they withdrew recurring вЂњfinanceвЂќ charges every a couple of weeks without using some of the re re payments towards the supposed loan. In a few circumstances, customers requested payday advances, however the defendants charged them more they would than they said. Continue reading