The government announced settlements Thursday with seven companies accused of violating federal restrictions against exploiting people who take out high-rate loans. The settlements will provide more than $572,000 in refunds to consumers, the Federal Trade Commission said. Others are being investigated. FTC chairman Robert Pitofsky stressed that there are legitimate lenders of high-rate loans. But "we see a lot of very abusive behavior."
July 29, 1999 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
WASHINGTON — The government announced settlements Thursday with seven companies accused of violating federal restrictions against exploiting people who take out high-rate loans.
The settlements will provide more than $572,000 in refunds to consumers, the Federal Trade Commission said. Others are being investigated.
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