A couple of weeks ago, Reuters stated that AMG Services, the Overland ParkвЂ“based online payday-loan behemoth, was indeed subpoenaed by a federal grand jury. The business, based on that report, will be examined for violations such as cable fraud, racketeering and cash laundering.
ThatвЂ™s no great surprise. AMG Services is a textbook exemplar associated with notoriously misleading online-lending industry. That isnвЂ™t even the instance paydayloanscalifornia.net login that is first of operating afoul of federal authorities; the Federal Trade Commission filed case against AMG in 2012, accusing it of maybe not disclosing the genuine expenses of its loans and threatening borrowers through the collection procedure.