$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

In the event that 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 biggest reimbursement 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 may well be getting a sign in the mail through the FTC. The $505 million the FTC is going back to customers makes this the biggest reimbursement system the agency has ever administered.

The FTC sued AMG and Scott A. Tucker for misleading payday financing. Whenever customers took down loans, AMG said they’d charge an one-time finance cost.

Rather, AMG made numerous unlawful withdrawals from peoples’ bank reports and charged fees that are hidden. As being a total result, individuals paid a lot more for the loans than that they had decided to.

In 2016 the FTC won a court case against AMG and Scott Tucker. Then in 2017, a jury convicted Tucker and their lawyer of crimes associated with the financing scheme. The FTC and Department of Justice are employing cash acquired in both court actions to offer refunds to customers.

Listed below are responses to questions regarding AMG refunds.

Who can obtain a reimbursement?

Checks are now being provided for customers whom took away loans between January 2008 and January 2013 from the companies that are AMG-related 500FastCash, Advantage Cash solutions, Ameriloan, OneClickCash, Star money Processing, UnitedCashLoans, and USFastCash. (more…)

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