Federal District Court Grants FTC Request, Halts Online Payday Operation


On August 29, the U.S. District Court for the Northern District of Illinois ordered an online payday loan operation to cease business activities and freeze assets in response to a complaint and memorandum filed by the FTC on August 27. Federal Trade Commission v. Caprice Marketing, LLC, No. 13-cv-6072 (N. Dist. Ill. Aug. 29, 2013). The FTC alleges that the defendants obtained sensitive personal and financial information from consumers by falsely representing that such information would be used to match consumers with payday lenders but instead used the information to make unauthorized withdrawals from consumer accounts.

Topics:  Fraud, Frozen Assets, FTC, Internet Lenders, Payday Loans

Published In: Antitrust & Trade Regulation Updates, Business Torts Updates, Consumer Protection Updates, Finance & Banking Updates, Personal Injury Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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