Page 4 of 4 FirstFirst 1234
Results 76 to 94 of 94
  1. #76
    Veteran
    My Team
    San Antonio Spurs
    Join Date
    Mar 2009
    Post Count
    97,514
    Online Payday Lending Companies To Pay $21 Million To Settle Deception Charges, Must Waive $285M In Loans


    The FTC announced that AMG Services, Inc. and MNE Services, Inc. will pay $21 million and waive another $285 million in charges that were assessed but yet not collected in order to settle accusations they violated the law by charging consumers undisclosed and inflated fees.

    According to the FTC complaint [PDF], the defendants violated the FTC Act by misrepresenting to consumers how much loans would cost them.

    For example, the defendants’ contract stated that a $300 loan would cost $390 to repay, but the companies actually charged consumes $975 to repay the loan.


    The FTC also accuses the companies of violating the Truth in Lending Act by failing to accurately disclose the annual percentage rate and other loan terms. The complaint claims the companies violated the Electronic Funds Transfer Act by making unauthorized debits from consumers’ bank account a condition of the loans.


    In addition to the fine and waived fees, the settlement includes broad prohibitions barring the defendants from misrepresenting the terms of any loan product, including the loan’s payment schedule, the total amount the consumer will owe, the interest rate, annual percentage rates or finance charges, and any other material facts.


    http://consumerist.com/2015/01/16/on...285m-in-loans/


    Last edited by boutons_deux; 01-17-2015 at 08:00 AM.

  2. #77
    dangerous floater Winehole23's Avatar
    My Team
    San Antonio Spurs
    Join Date
    Nov 2008
    Post Count
    89,421
    I'm thrilled to see my old pal Vanita Gupta at the Civil Rights Division of the Justice Department targeting excessive fines and fees and debtors' prison policies. See New York Times coverage, a letter sent by DOJto chief justices and court administrators chastising them for using arrest warrants for collections, and here's more background from the DOJ. Noted the Times, "The issue has helped forge alliances between liberal civil rights groups and conservative organizations. Grover Norquist, the conservative activist, spoke last year at a White House summit meeting on poverty and incarceration. The Ins ute for Justice, a libertarian organization, has brought lawsuits accusing cities of using court fines to raise revenue."
    http://gritsforbreakfast.blogspot.co...ying-pigs.html

  3. #78
    Veteran
    My Team
    San Antonio Spurs
    Join Date
    May 2006
    Post Count
    6,202
    Could we please throw our politicians in prison for the $19 trillion debt?

  4. #79
    Veteran
    My Team
    San Antonio Spurs
    Join Date
    Mar 2009
    Post Count
    97,514
    Could we please throw our politicians in prison for the $19 trillion debt?
    "deficits don't matter" -- head (starting bogus wars and deepest tax cut for wealthy, including himself)

  5. #80
    Take the fcking keys away baseline bum's Avatar
    My Team
    San Antonio Spurs
    Join Date
    Mar 2003
    Post Count
    93,154
    Could we please throw our politicians in prison for the $19 trillion debt?
    Too late, Reagan is already dead.

  6. #81
    Real Warrior Warlord23's Avatar
    My Team
    San Antonio Spurs
    Join Date
    Dec 2004
    Post Count
    6,024
    Could we please throw our politicians in prison for the $19 trillion debt?
    I'm probably wasting my breath but here goes nothing.

    Before you spout talking points about the national debt, please try and understand the debt-based monetary system that is used all over the world. In this system, the existence of money is mainly due to the existence of debt. That 19 trillion (along with a lot of corporate and private debt) is the reason there is money in your savings account or your 401k.

    This video does a good job of explaining how we got here. And neither Trump nor any of the other charlatans can eliminate this debt. The only thing they can try (which is what Obama has been reasonably good at) is to lower the annual deficit and slow the growth of debt relative to GDP. We are stuck with this system till we decide to do away with it.


  7. #82
    Veteran
    My Team
    San Antonio Spurs
    Join Date
    Mar 2009
    Post Count
    97,514
    "We are stuck with this system till we decide to do away with it."

    OUR decisions don't matter.

    The banks create/lend money with "fractional reserve" banking so essentially the USA, the planet are paying eternal interest to the banks, which own government.

  8. #83
    Veteran Wild Cobra's Avatar
    My Team
    Portland Trailblazers
    Join Date
    May 2007
    Post Count
    43,117
    Too late, Reagan is already dead.
    Idiot alert.

    Most of the debt that increased during Reagan's watch was because of double digit return rates on government bonds, cause by the prior administration.

  9. #84
    Take the fcking keys away baseline bum's Avatar
    My Team
    San Antonio Spurs
    Join Date
    Mar 2003
    Post Count
    93,154
    Idiot alert.

    Most of the debt that increased during Reagan's watch was because of double digit return rates on government bonds, cause by the prior administration.
    The Republican Crusader swoops in with his revisionist history!

  10. #85
    Veteran
    My Team
    San Antonio Spurs
    Join Date
    Mar 2009
    Post Count
    97,514
    Idiot alert.

    Most of the debt that increased during Reagan's watch was because of double digit return rates on government bonds, cause by the prior administration.
    nope, 80s Repugs cut taxes and increased spending, switching from tax and spend, to borrow and spend (borrowing = selling bonds to the wealthy just as the VRWC/1% wanted)

  11. #86
    🏆🏆🏆🏆🏆 ElNono's Avatar
    My Team
    San Antonio Spurs
    Join Date
    Apr 2007
    Post Count
    152,607
    Too late, Reagan is already dead.
    For a good part of the GOP, zombie Ronnie lives on though

  12. #87
    Veteran
    My Team
    San Antonio Spurs
    Join Date
    Mar 2009
    Post Count
    97,514
    For a good part of the GOP, zombie Ronnie lives on though
    no, "He's Dead, Jim"

    Repugs idolize, MYTHologize St Ronnie, just like the Repugs live in a world of bull myths and lies. St Ronnie was so far left of today's Repugs, Kock Bros would primary him.

  13. #88
    Veteran
    My Team
    San Antonio Spurs
    Join Date
    May 2006
    Post Count
    6,202
    It was supposed to be a joke.

  14. #89
    Take the fcking keys away baseline bum's Avatar
    My Team
    San Antonio Spurs
    Join Date
    Mar 2003
    Post Count
    93,154
    no, "He's Dead, Jim"

    Repugs idolize, MYTHologize St Ronnie, just like the Repugs live in a world of bull myths and lies. St Ronnie was so far left of today's Repugs, Kock Bros would primary him.

  15. #90
    Independent DMX7's Avatar
    My Team
    San Antonio Spurs
    Join Date
    Jun 2008
    Post Count
    21,198
    Totally. They would have a near Trump-like panic attack.

  16. #91
    dangerous floater Winehole23's Avatar
    My Team
    San Antonio Spurs
    Join Date
    Nov 2008
    Post Count
    89,421
    The problem I see is that some of these people claim they received no notice that they were being sued by these debt collectors. If you're getting sued you should be notified and be able to challenge or defend yourself in court before any warrant is issued.

    If courts are issuing warrants before summons, then there's definitely a problem.
    Did you see this story? There's a judge in Kansas who lets debt collectors run his courtroom.

    When I asked ARSI about how attorneys decide to request warrants, Joshua Shea, who is general counsel, told me that they don’t. The judge can choose to issue one if court orders are not followed, he said. But Casement said the opposite, telling me that he gave the choice to the attorneys. “I’m not ordering a bench warrant. My decision is to give them that option,” Casement told me. “Whether they exercise it is up to them, but they have my blessing if that’s what they want to do.”
    https://features.propublica.org/medi...yville-kansas/

  17. #92
    🏆🏆🏆🏆🏆 ElNono's Avatar
    My Team
    San Antonio Spurs
    Join Date
    Apr 2007
    Post Count
    152,607
    Did you see this story? There's a judge in Kansas who lets debt collectors run his courtroom.

    https://features.propublica.org/medi...yville-kansas/
    It's always these little towns running these scams... uneducated judge, co-opted by a lawyer... eventually somebody appeals to federal court and we end up with some semblance of justice.

    What's worse, it always affects the poor and needy the most.

    Thanks for sharing.

  18. #93
    dangerous floater Winehole23's Avatar
    My Team
    San Antonio Spurs
    Join Date
    Nov 2008
    Post Count
    89,421
    "private probation"


  19. #94
    dangerous floater Winehole23's Avatar
    My Team
    San Antonio Spurs
    Join Date
    Nov 2008
    Post Count
    89,421

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •