Payday loans scam FTC fine = $850K
 

Feds have been cracking down on this lucrative mainstream niche. The super-aggressive tactics listed in the source below definitely explains the added heat.

Source: http://www.dailyfinance.com/blog/201...e-ftc-fraud-c/

Quote:

The FTC has been cracking down on payday lending and other types of predatory financial services as part of a broad campaign to protect consumers made vulnerable by the Great Recession. According to the agency's complaint, Swish Marketing Inc., of Palo Alto, Calif., and its three officers, Mark Benning, Matthew Patterson, and Jason Strober, the technology officer in question, operated websites advertising short-term, or "payday," loan matching services. Swish Marketing's sites included an online loan application form that tricked consumers into ordering a debit card when they applied for a loan. On numerous sites, clicking the button for submitting loan applications led to four product offers unrelated to the loan, each with tiny "Yes" and "No" buttons. The "No" button was pre-checked for three of them. The "Yes" button was pre-checked for a debit card, with a fine-print disclosure giving the consumer's consent to debit their bank account. See full article from DailyFinance: http://srph.it/qR6Yx4

Got a link to the site? Curious to see how the terms were laid out. I tried skimming the article but didn't see it.

"christian life financial" lol ...

why is that not surprising.

http://www.ftc.gov/os/caselist/07232...ptexhibita.pdf

http://www.ftc.gov/os/caselist/07232...ptexhibitd.pdf

here is the "bonus" offers.

http://www.ftc.gov/os/caselist/07232...ptexhibitb.pdf

wow suckshit payday loans are a big scam

So they stole hundreds of thousands from people and wont do a minute of time. Yet, the dude that steals a case of beer gets thrown under the jail. :disgust

http://img2-cdn.newser.com/square-im...rds-wrist.jpeg

What do you expect from politicians?

ADG

Really? This is news to me.
How can you can take 1 company who strayed from the pack and group an entire industry in the same boat? Payday Loans agree with them or not ...are legal and are not a scam.

There is a lot of irony here don't you think? An industry which constantly defends itself and its practices is passing judgement on others.

If anyone has questions, feel free to buzz me or hit me up on IM.

-=Chipmunk=-

seconds blast from the past today ;)

Matthew hows you doing mate?

Just another example of communists clamping down on capitalists...

That sounds like pre-checked cross sales in porn.

It's called white collar crime for a reason. Everyone has a piece of that pie when it's going on.

Plus, they went to college and are "middle class". They get a pass. Now, those guys who had no dads who go on physically threatening people. Gotta throw the book at those people.

/Sarcasm.

fucking Chipmunk!!!!

hit me up tomorrow dude to talk about this. i may have some traffic for it

118156620

Put them in jail for at least five years and triple restitution with asset seizures, if necessary. Set an example. Also have a policy of seizing assets of overseas operators whenever possible when it crosses US territory. Personally go after the executive management of any companies involved.

Not all of us here are a bunch of scumbags. Just because 80% have sold out and would sell their own mothers for a buck doesn't mean the other 20% of us would.

i dont see anything wrong with this.

LOL E. What's up man! I'll hit you up on ICQ tomorrow.

...And hello to you too Forest! LTNS! Sure... I will hit you up on ICQ tomorrow as well :)

Fair enough man! I do agree ...But I would say 90/10 :)

-=Chipmunk=-