The Federal Trade Commission today took up a case that had thwarted state authorities for years, accusing an Internet payday lender with ties to Indian tribes of illegally deceiving borrowers. The agency is asking a federal judge in Nevada to order AMG Services of Overland Park.Kan.to stop the deceptive practices and pay back borrowers who its says got cheated. The defendants have deceived consumers about the cost of their loans and charged more pre approval loan personal they said they would, said Malini Mithal, the FTCs assistant director of financial practices.
The FTC is trying to stop this deception and get refunds for consumers.
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