“We get much more complaints in pay day loan cases,” Helen Wong for the FTC’s Bureau of customer Protection told The Enquirer. She said the settlements established Friday came into being because “the ads had been simply so misleading, with billboards both in Spanish and English . that implied you can get that loan for free anytime that just wasn’t the instance.”
Cook, of this Ohio Poverty Center, stated that although the settlement most most likely won’t modification much when you look at the TriState area straight, she credits the FTC for stepping in with respect to customers and hopes that the action at the least raises general public understanding.
I’m always thrilled to see a predatory lender called to task on abusive methods,” she stated.
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