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FTC announces recovery against payday lenders
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Case Law, Consumer Protection
Friday, January 8, 2016
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The Federal Trade Commission has entered into two settlement agreements with payday lenders Red Cedar Services Inc. and SFS Inc. in regards to its April 2012 complaint against Red Cedar, SFS, AMG Services, Inc., and MNE Services, Inc. and other related entities and individuals. So far, the commission has recovered about $25.5 million and an estimated $353 million in waived debt, and it’s not done yet.
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