The Consumer Financial Protection Bureau and the state of New York have accused a New Jersey company of defrauding customers — including Sept. 11 first responders and former NFL players suffering from long-term brain injuries — into signing away millions of dollars in settlement payouts. [More]
high-interest loans
Legal Fund Accused Of Deceiving 9/11 First Responders & NFL Players Out Of Settlement Payments
By 2.7.17 — Updated: 2.8.17
Short-Term Loan Startup LendUp Ordered To Pay $3.6M Over Alleged Lending Violations
By 9.27.16
When a company promises to lend you money and rebuild your credit — all through your phone — it can be hard to pass up the offer, especially when you’re in a pinch. But what happens when that lender doesn’t deliver? It gets fined millions of dollars by the federal government, or at least that’s the case for online lender LendUp. [More]
The Other Danger Of Online Payday Loans: Identity Theft
By 4.16.15
Many people who seek online payday loans are already in a very vulnerable position when they take on the added risk of the excessive interest rates and often exorbitant fees associated with these short-term loans. But there’s another danger possibly lurking in the payday shadows: Having all their personal and financial data end up in the hands of cyber criminals. [More]
CFPB, Navajo Nation Team Up To Put An End To Tax Scheme Targeting Low-Income Consumers
By 4.14.15
For many low-income consumers, tax time provides an opportunity to catch up on bills and get back on track financially. Unfortunately, there are unscrupulous companies out there that aim to make money of these same consumers by pointing them in the direction of high-cost tax-refund-anticipation loans. That appears to be the case for the owner of New Mexico-based H&R Block franchises and a tax-time loan company operating an alleged illegal tax-refund scheme. [More]
