Money Services

Payday Loan Judgment is a Record for the FTC at 1.3 Billion

October 5, 2016 General Counsel News The Federal Trade Commission, in its first public remarks since a federal judge last week entered a $1.3 billion judgment against payday loan businessman Scott Tucker, called the penalty the largest of its kind, reports The Kansas City Star. The judgment against Tucker and related entities […]

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The Financial Service Centers of America responds to the recently released report from the CFPB on Payday Lending and Deposit Advance Products:

“FiSCA continues to support ready access to simple, convenient and transparent short-term, small dollar credit by consumers facing financial shortfalls.  The CFPB report, which recognizes that demand exists for small dollar credit products and that these types of credit products can be helpful for consumers, raises concerns about payday loans […]

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