May 26 2022

Payday Lenders Pay $4.4 Million to Settle Deception Charges

The Federal Trade Commission charged two payday lenders in April of 2012, Red Cedar Services Inc. and SFS Inc, alleging that the lenders misrepresented how much loans would cost consumers, and failed to accurately disclose the annual percentage rate of other loan terms. Each company has paid $2.2 million to settle these charges, and have collectively waived $68 million in fees to consumers which were not collected as a result of these violations of the FTC Act and TILA. [1/6/16]

Risk Watch Plus Webinar 8: Complaint Management

Complaints: Why you shouldn’t shun them, but invite them! In this era of exploding complaint volume, this certificated webinar (see instructions in video for how to get your free certificate of completion) takes a look at the risks, evolution, and need for a management strategy to effectively deal with complaints. Before that, we cover what’s hot in compliance, as seen by the editors of Risk InboX. This week’s hot items: 1) HUD cancels Obama era Fair Housing rule; 2) “HMDA” for boards and management; and 3) CFPB has added a new dimension to its complaint database. Click here to watch now.

What is the AffirmX Platform?

Video What makes the patented AffirmX Risk Intel Platform different than anything else out there? Take the next 3 minutes to see what this revolutionary tool can do for your financial institution. Watch Video

About Risk InboX

Each day, teams of subject matter experts and analysts at AffirmX and AdvisX comb through dozens of resources to keep tabs on the latest developments in areas of risk. We share our findings here, along with a brief note about why each item matters.

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