Payday Lending Service To Pay $9.5M For Duping Customers

Law360, Los Angeles (July 18, 2013, 7:54 PM EDT) -- An online payday loan referral service and its affiliates must pay $9.5 million for allegedly duping loan seekers with discount membership club enrollments and surreptitiously charging their bank accounts up to $100 annually, a Florida federal judge ruled Thursday.

More than 600,000 consumers trying to get a loan online unwittingly joined discount programs after entering bank account information they thought would be used for the loan application, the Federal Trade Commission claimed. U.S. District Judge John Antoon II found that WKMS Inc. and its affiliates engaged...
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