Statement by FTC Chairman Simons on DOJ’s Remitting more than $500 Million to FTC for Consumers Deceived in Payday Lending Scheme
Topics: Scott Tucker
Federal Trade Commission
26 June 2018
Federal Trade Commission Chairman Joseph Simons issued the following statement regarding the Justice Department’s plan to remit more than $500 million to the FTC for consumers who were harmed by a massive payday lending scheme:
“We are very pleased that the Justice Department was able to recover this money in connection with its criminal and civil cases, and that we can help by returning it to consumers,” Simons said.
In 2016, the FTC obtained a $1.3 billion civil court judgment in connection with this scheme, in which then-racecar driver Scott A. Tucker and his companies deceived consumers and illegally charged them undisclosed and inflated fees.
The Federal Trade Commission works to promote competition, and protect and educate consumers. You can learn more about consumer topics and file a consumer complaint online or by calling 1-877-FTC-HELP (382-4357). Like the FTC on Facebook, follow us on Twitter, read our blogs and subscribe to press releases for the latest FTC news and resources.
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