October 2, 2018 – FTC and DOJ Mailing Refunds to Consumers

The Federal Trade Commission has initiated the process of returning more than $505,000,000 to more than 1 million consumers in the AMG Services/Scott Tucker case.

The FTC and Department of Justice are jointly using funds obtained in the civil and criminal matters to provide refunds to consumers who took out loans before January 2013 from the following seven loan portfolios serviced by AMG Services: 500FastCash, Advantage Cash Services, Ameriloan, OneClickCash, Star Cash Processing, UnitedCashLoans, and USFastCash.

The FTC and the refund administrator have used the Defendants’ business records from January 2008 through January 2013 to identify consumers and calculate their refund amounts, so it is not necessary for these consumers to contact the FTC to make claims.

For more information, go to: https://www.ftc.gov/news-events/press-releases/2018/09/ftc-doj-return-record-505-million-consumers-harmed-massive-payday.  Any additional questions you may have should be directed to the FTC’s tollfree Consumer Redress Hotline at 1-866-730-8147.

November 30, 2016

The Defendants operated one of the largest payday lending businesses in the United States.  After more than four years of litigation, the United States District Court for the District of Nevada entered a judgment in favor of the Federal Trade Commission (“FTC”) for $1.3 billion.  (Click here to read the Judgment.)  The District Court subsequently appointed Thomas W. McNamara monitor over a number of entities and individual defendants (the “Monitorship Estate”).  (Click here to read the Freeze Order.)  The monitor’s duties include monitoring compliance with an asset freeze, selling assets, monitoring receipt of income, conducting an investigation of assets and transfers, operating businesses if appropriate, and collecting funds due the Monitorship Estate.