CFPB Payday Lenders Took Cash from Consumers Who Had…

Two online that is fraudulent payday operations based within the Kansas City area have already been temporarily power down after being sued by federal authorities.

Wednesday combined, the two schemes allegedly bilked at least $36 million, and likely substantially more, from consumers nationwide, officials from the Consumer Financial Protection Bureau and the Federal Trade Commission said.

Both in situations, the businesses are accused of utilizing delicate private information that they bought about specific customers to gain access to their bank reports, deposit $200 to $300 in pay day loans, and then make withdrawals all the way to $90 every single other week, even though lots of the customers never ever decided to just simply just take a payday loan out. Read more “CFPB Payday Lenders Took Cash from Consumers Who Had Beenn’t Also Clients” →