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FTC Halts Deceptive Payday Lender That Took Millions From Consumers’ Accounts Without Authorization

The Federal Trade Commission has charged a lending that is payday with deceptively overcharging customers huge amount of money and withdrawing money over over over repeatedly from customers’ bank reports without their authorization. a federal court has entered a short-term restraining purchase halting the procedure and freezing the defendants’ assets, during the FTC’s demand.

Based on the FTC, the 11 defendants, through internet sites and telemarketing, and running underneath the names Harvest Moon Financial, Gentle Breeze on line, and Green Stream Lending, utilized marketing that is deceptive to persuade people that their loans could be repaid in a hard and fast wide range of re re re payments. The FTC alleges, consumers found that long after the promised number of payments had been made, the defendants had applied their funds to finance charges only and were continuing to make regular finance-charge only withdrawals from their checking accounts in fact, in many instances. Continue Reading…