FTC and DOJ issue refunds triggered by major payday lending scheme

FTC and DOJ issue refunds triggered by major payday lending scheme
Published: May. 23, 2022 at 7:24 AM CDT
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MONROE, La. (KNOE) - Some people turn to pay day loans or cash advances to help them out in a pinch. Jo Ann Deal with the Better Business Bureau joined us on Good Morning ArkLaMiss to tell us about a refund you could be entitled to if you got a loan from AMG Services, Inc. or any of the companies it operates.

AMG is accused of illegally charging undisclosed and inflated fees. The FTC and DOJ will return a record $505 million dollars to consumers. It’s the largest FTC-administered redress program in agency history.

In its 2012 Complaint, the FTC and U.S. Attorney’s Office obtained settlements for January 2015, November 2015, February 2016, and June 2018 with three Native American tribes involved in Tucker’s operation.

As of May 19, 2022, the FTC is sending out a second round of refunds to some of the people affected by this major payday lending scheme operated by AMG Services, Inc. that used names like 500FastCash, OneClickCash, Ameriloan, UnitedCashLoans, and USFastCash, among others.

If you got an online payday loan from a company linked to AMG, you might be getting a check in the mail. If you do, cash it before August 17, 2022.

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