Markey Asks FTC to Probe Payday Loan Websites

Law360, New York (December 6, 2013, 4:41 PM EST) -- Sen. Ed Markey, D-Mass., sent a letter to the Federal Trade Commission on Wednesday, asking the agency to investigate websites that claim to offer payday loans but may be unlawfully collecting and storing customers' personal information and selling it to predatory lenders.

In the letter, addressed to FTC Chairwoman Edith Ramirez, Markey said that according to a recent report on National Public Radio, a number of websites are operating as lead generators by collecting the personal information of potential borrowers and transfering it to predatory lenders. According...
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