A couple of weeks ago, Reuters stated that AMG Services, the Overland ParkвЂ“based online payday-loan behemoth, have been subpoenaed with a federal jury that is grand. The business, in accordance with that report, has been examined for violations such as cable fraudulence, money and racketeering laundering.
ThatвЂ™s no shock that is great. AMG Services has grown to become a textbook exemplar associated with notoriously misleading online-lending industry. It isnвЂ™t perhaps the very first instance of AMG operating afoul of federal authorities; the Federal Trade Commission filed case against AMG in 2012, accusing it of perhaps not disclosing the genuine costs of the loans and threatening borrowers through the collection process.