September 22, 2014 The FTC has shutdown a Missouri-based scam operation, which claimed to be a payday lending business. The scam operated by depositing $200-300 into consumers’ bank accounts without their permission, then repeatedly withdrawing money from the same account as “finance charges”, using fake documents presented to consumers’ banks. The FTC press release is… Read more
This entire 16-minute segment is definitely worth watching, here. With 1.8 million views on YouTube already, this insightful and often serious clip has the potential to impact policy and regulation. Pass it on. Read more
In what is probably an unprecedented move, a federal regulator has filed a lawsuit accusing a debt collection law firm of violating the Fair Debt Collection Practices Act because the law firm is a mill, and taking a factory approach to litigation. Specifically, the lawsuit alleges that in filing over 300,000 lawsuits, there was a… Read more
Ever wonder who regulates what in terms of consumer finance? Here is a simple explanation of the federal regulators, all in one place, courtesy of The Consumerist. Read more
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