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

$505 Million in Refunds delivered to Payday Loan Customers 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 reimbursement system the agency has ever administered. (FTC image)

BREVARD COUNTY, FLORIDA – If you took away an on-line cash advance from an organization connected to 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 deceptive payday financing. When no credit check installment loans customers took down loans, AMG stated they might charge a finance fee that is one-time.

Alternatively, AMG made numerous unlawful withdrawals from peoples’ bank reports and charged concealed fees. As outcome, individuals paid more for the loans than that they had consented to.

In 2016 the FTC won a court situation against AMG and Scott Tucker. Then in 2017, a jury convicted Tucker and their lawyer of crimes pertaining to 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 get yourself a reimbursement?

Checks are now being delivered to customers whom took down loans between January 2008 and January 2013 from all of these companies that are AMG-related 500FastCash, Advantage Cash solutions, Ameriloan, OneClickCash, Star money Processing, UnitedCashLoans, and USFastCash.

Just exactly How lots of people will get refunds?

A lot more than 1.1 million individuals are certain to get refunds. Continue reading “$505 Million in Refunds delivered to Payday Loan Customers Through the Federal Trade Commission”