eyetwist

Operators Of Scammy Payday Lender Ordered To Pay $1.26 Billion

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

Feds Arrest Heads Of Two Massive Online Payday Loan Operations

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]

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Connecticut Tribes Join State Leaders In Fighting Unlicensed Payday Lending By Oklahoma Tribe

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]

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Missouri AG Shuts Down Eight Online Payday Lenders Operating From South Dakota Reservation

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

SCOTUS Decision Proves States Have Power Over Payday Lenders Claiming Tribal Affiliation

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]