BBB warns of loan scams during Discovery Channel’s annual “Shark Week”

Are you strapped for cash? Maybe you just need a little extra cash until payday, or you are an entrepreneur looking for a last-minute loan. Don’t go swimming in shark-infested waters. In honor of “Shark Week,” Better Business Bureau serving Central, Coastal, Southwest Texas and the Permian Basin advises you to watch out for hungry…

Online payday lenders to pay $21M settlement to settle FTC charges

Two payday lenders recently settled Federal Trade Commission (FTC) charges that they broke the law by charging undisclosed and inflated fees. AMG Services, Inc. and MNE Services, Inc. will pay $21 million and will waive another $285 million in charges that were assessed but not collected. MNE Services lent to consumers under the trade names Ameriloan, United…

Seeking fast cash for the holidays could cost you a bundle

BBB warns consumers to be wary when applying for payday or car title loans Your cash reserves are running low. Holiday presents need to be bought and you don’t get paid until next week. What can you do to get some extra last minute cash? Many cash-strapped consumers may find themselves in need of a…

FTC cracks down on Florida-based payday loan scheme

Of the scams that make my blood boil, payday loan scams are near the top of the list. People who are desperate for cash end up losing what little they already had. Meanwhile the scammers get to live it up on other people’s money. And it’s so hard to track them down or really know who…

U.S. district court shuts down phony payday lender

There will be tips at the bottom, but I’m also going to start this one with a tip: DO NOT enter your financial information in an online form until you know the company and website are legitimate. That’s a recipe for identity theft. Case in point… A U.S. district court agreed to the Federal Trade…

Fast cash may end up costing consumers

BBB warns consumers to be wary when applying for payday or car title loans Better Business Bureau is warning consumers looking for payday or car title loans to research a company or website’s reputation and read all the fine print before giving your personal information or signing any agreements. This year, BBB has received more…