AMG Defendants Settle FTC's Debt Collection Charges

July 22, 2013
NewsRoom America  
debt settlement news

The Federal Trade Commission (FTC) has reached a partial settlement in its case against the payday lending operation AMG Services Inc. The accord resolves allegations that the defendants used threatening debt-collection calls against consumers and violated the Electronic Fund Transfer Act (EFTA). It bars the settling defendants from threatening borrowers with arrest and lawsuits to try to collect on debts and forbids them from requiring that all borrowers agree in advance to electronic withdrawals from their bank accounts. Other, continued charges against the AMG defendants include allegations that they levied undisclosed charges against borrowers and inflated their fees.
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