Categorías
quick title loans

FTC Action Halts Pay Day Loan Scheme That Bilked Tens of Millions From People By Trapping Them Into Supposed “Loans” They Never Authorized

FTC Action Halts Pay Day Loan Scheme That Bilked Tens of Millions From People By Trapping Them Into Supposed “Loans” They Never Authorized

At the Federal Trade Commission’s demand, a U.S. district court in Missouri has temporarily halted an online payday lending scheme that presumably bilked customers away from tens of huge amount of money by trapping them into loans they never authorized then utilizing the expected “loans” being a pretext to just take cash from their bank reports.

The court imposed a short-term restraining order that appoints a receiver to just just take the operation over. The court purchase provides FTC therefore the receiver instant use of the businesses’ premises and papers, and freezes their assets.