FTC challenges strategies of online lender that is payday

FTC challenges strategies of online lender that is payday

For the business called Harvest Moon, its business practices sure leave consumers at night about key facets of its loans that are payday. That’s what the FTC alleges in a instance filed in federal court in Nevada.

Utilizing consumer-facing names like Harvest Moon Financial, Gentle Breeze on line, and Green Stream Lending, 11 relevant Nevada- and California-based defendants – including a tribal lending enterprise chartered beneath the regulations regarding the Los Angeles Posta Band of Diegueño Mission Indians – run an on-line lending operation that is payday. Customers typically borrow quantities which range from $50 to $800.

The defendants represent that they’ll withdraw a set wide range of re re payments from consumers’ bank reports to cover both the principal and finance fees from the loan. Continue reading “FTC challenges strategies of online lender that is payday”