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]
Truth In Lending Act
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]
Supreme Court Rules Homeowners Don’t Have To Sue Lenders To Rescind Mortgage Under Truth In Lending Act
By 1.13.15
A ruling by the Supreme Court on Tuesday made it a little easier for consumers to back out of mortgages under the Truth In Lending Act when lenders fail to disclose full terms of the deal. [More]
