Nearly two years after federal authorities arrested the man behind the company responsible for one of the scammiest payday loans Consumerist has ever seen, the man and his lawyer were convicted of racketeering related to running a $3.6 million online payday lending operation that exploited more than 4.5 million people. [More]
tribal affiliation
Operators Of Scammy Payday Lender Ordered To Pay $1.26 Billion
By 10.3.16
Four years after federal regulators sued the operators behind what might have been the scammiest payday loan Consumerist had ever seen, a federal judge has ordered Scott Tucker and his businesses to pay $1.26 billion to the Federal Trade Commission to resolve allegations of running online payday lending operations that exploited more than 5 million consumers. [More]
Feds Arrest Heads Of Two Massive Online Payday Loan Operations
By 2.10.16
Back in June 2014, Consumerist showed readers what might have been the scammiest payday loan we’d ever seen. Today, federal authorities arrested the man behind the company, AMG Services — along with his lawyer and another, unrelated, payday lender — for allegedly running online payday lending operations that exploited more than 5 million consumers. [More]
Connecticut Tribes Join State Leaders In Fighting Unlicensed Payday Lending By Oklahoma Tribe
By 4.14.15
The fight against payday lenders operating through affiliation with Native American tribes to skirt Connecticut law escalated this week as leaders of the state’s federally recognized Indian tribes joined forces with state officials to denounce the often financially devastating credit practice. [More]
Missouri AG Shuts Down Eight Online Payday Lenders Operating From South Dakota Reservation
By 3.6.15
More than 6,300 Missouri residents will receive refunds or have their debts voided after the state’s attorney general reached an agreement with an online payday lender based on a Sioux reservation in South Dakota. [More]
SCOTUS Decision Proves States Have Power Over Payday Lenders Claiming Tribal Affiliation
By 5.29.14
While a U.S. Supreme Court decision yesterday in the case of a Michigan Native American tribe’s allegedly illegal casino appears to have nothing to do with payday lending, experts say it’s a game changer in states’ efforts to rein in the often predatory industry. [More]
