$505 Million in Refunds delivered to Payday Loan users Through the Federal Trade Commission

$505 Million in Refunds delivered to Payday Loan users Through the Federal Trade Commission

see responses to questions regarding AMG refunds

You may be getting a check in the mail from the FTC if you took out an online payday loan from a company affiliated with AMG Services. The $505 million the FTC is going back to customers makes this the biggest refund system the agency has ever administered. (FTC image)

BREVARD COUNTY, FLORIDA – If you took down an on-line cash advance from a business associated with AMG Services, you might be getting a sign in the mail through the FTC. The $505 million the FTC is going back to customers makes this the refund program that is largest the agency has ever administered.

The FTC sued AMG and Scott A. Tucker for misleading payday lending. Whenever customers took away loans, AMG stated they’d charge a finance fee that is one-time.

Rather, AMG made numerous unlawful withdrawals from peoples’ bank accounts and charged concealed charges. Being a total result, individuals paid a lot more for the loans than that they had consented to.

In 2016 a court was won by the FTC case against AMG and Scott Tucker. Then in 2017, a jury convicted Tucker and their lawyer of crimes linked to the lending scheme. The FTC and Department of Justice are utilizing money acquired in both court actions to provide refunds to customers.

Listed below are responses to questions regarding AMG refunds.

Who can obtain a refund?

Checks are now being delivered to customers whom took away loans between January 2008 and January 2013 because of these companies that are AMG-related 500FastCash, Advantage Cash solutions, Ameriloan, OneClickCash, Star money Processing, UnitedCashLoans, and USFastCash. Continue reading “$505 Million in Refunds delivered to Payday Loan users Through the Federal Trade Commission”