Consumer Alert
$505 million in refunds sent to payday loan customers
If you took out an online payday loan from a company affiliated with AMG Services, you may be getting a check in the mail from the FTC. The $505 million the FTC is returning to consumers makes this the largest refund program the agency has ever administered.
The FTC sued AMG and Scott A. Tucker for deceptive payday lending. When consumers took out loans, AMG said they would charge a one-time finance fee. Instead, AMG made multiple illegal withdrawals from peoples’ bank accounts and charged hidden fees. As a result, people paid far more for the loans than they had agreed to.
In 2016 the FTC won a court case against AMG and Scott Tucker. Then in 2017, a jury convicted Tucker and his attorney of crimes related to the lending scheme. The FTC and Department of Justice are using money obtained in both court actions to give refunds to consumers.
Here are answers to questions about AMG refunds.
Who will get a refund? Checks are being sent to consumers who took out loans between January 2008 and January 2013 from these AMG-related companies: 500FastCash, Advantage Cash Services, Ameriloan, OneClickCash, Star Cash Processing, UnitedCashLoans, and USFastCash.
How many people will get refunds? More than 1.1 million people will get refunds.
How does the FTC know who to send the checks to? The FTC and a refund administrator have used AMG’s business records to identify eligible consumers and calculate their refunds.
I’m eligible for a refund. What do I need to do? If you borrowed from one of the lenders listed above between January 2008 and January 2013, you don’t need to do anything. The checks are being mailed to eligible consumers automatically. There is no application process. If you borrowed from one of those lenders before January 2008, please call 1-866-730-8147.
How can I get more information? Visit the FTC’s AMG refund page or call 1-866-730-8147.
Three tips from the FTC:
- If you get a check, deposit or cash it within 60 days.
- The FTC never asks people to pay money or give information to cash refund checks. If someone asks you to pay to get a refund from the FTC, it’s a scam.
- The FTC has advice if you’re thinking about a payday loan or an online payday loan.
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In reply to are these checks for real or by concerned
If you get a check from the Federal Trade Commission, it will come with an explanation of why you got the check and details about the case. You - and the bank - can look at www.FTC.gov/AMG for details about the refund. If you get a check, you should cash or deposit it within 60 days.
In reply to If you get a check from the by FTC Staff
In reply to I would like to know what I by Jackie2931
Checks are being sent to consumers who took out loans between January 2008 and January 2013 from these AMG-related companies: 500FastCash, Advantage Cash Services, Ameriloan, OneClickCash, Star Cash Processing, UnitedCashLoans, and USFastCash.
In reply to Checks are being sent to by FTC Staff
In reply to Checks are being sent to by FTC Staff
In reply to Wow thank you FTC. I received by Surprisedlady
In reply to Wow thank you FTC. I received by Surprisedlady
In reply to I got mine yesterday out of by wezzy364
In reply to I got mine Saturday. With by QTNA
Yes, you can deposit the check electronically. The "do not convert to ACH" is an instruction for the bank.
In reply to My husband rexeived a refund by Dcolson71
If you got a check made out to someone who is deceased, and you are in charge of that person's estate, you can call Rust Consulting, the company that the FTC hired to manage the refund process. Call 1-866-730-8147. They will explain what to do.
In reply to How do you if these checks by Sportsmom
In reply to What did US bank say about by Gfather
In reply to How do you if these checks by Sportsmom
In reply to I think it is a scam,,if it by Anonymous,,,,b…
The FTC didn't send certified checks. The FTC sent letters that said you're getting a check because of a case against AMG. The letters said this is a partial refund. It's a partial refund because the check doesn't repay you for all the money AMG charged you in hidden fees.
You can go to www.FTC.gov/AMG to read about the FTC case, and these refunds. You can call the company the FTC hired to manage the refunds at 1-866-730-8147.
In reply to The FTC didn't send certified by FTC Staff
In reply to I know you're being by B. Chewner
Your check is a partial refund because it is less than the total amount you paid to AMG Services, Inc. when it illegally charged you undisclosed and inflated fees.
The FTC had $505 million, and sent 1,179,803 refund checks. Your check is your share of the judgement. The FTC has sent out all the money that is available.
In reply to I think it is a scam,,if it by Anonymous,,,,b…
In reply to How do you if these checks by Sportsmom
In reply to How do you if these checks by Sportsmom
In reply to How do you if these checks by Sportsmom
In reply to Is this real? Because I by ghuerena
If you get a check from the Federal Trade Commission, it will come with an explanation of why you got the check and details about the case. You - and the bank - can look at www.FTC.gov/AMG for details about the refund. If you get a check, you should cash or deposit it within 60 days.
In reply to If you get a check from the by FTC Staff
In reply to You keep posting the same by Cranberry22
A check from the Federal Trade Commission is not a scam. If the FTC sends you a check, it also sends you a letter that explains why you got the check. The letter has details about the case that relates to the check. You can go to the FTC website and read a blog or press release about the case.
You can go to www.FTC.gov/AMG for more details about the refund. If you get a check from the FTC, cash it or deposit it within 60 days.
In reply to A check from the Federal by FTC Staff
In reply to A check from the Federal by FTC Staff
In reply to You keep posting the same by Cranberry22
In reply to This is not a scam! Cashed my by Blessed36
In reply to You keep posting the same by Cranberry22
In reply to If you get a check from the by FTC Staff
In reply to The check is made out to my by tnvets
If you got a check made out to someone who is deceased, and you are in charge of that person's estate, you can call Rust Consulting, the company that the FTC hired to manage the refund process. Call 1-866-730-8147. They will explain what to do.
In reply to If you get a check from the by FTC Staff
In reply to I just went to my bank to by Cakesnkisses
If you got a check in this case from the FTC, it came with a letter that explains why you got the check and gives details about the case. You and your bank can go to www.FTC.gov/AMG for details about the refund.
If you have trouble cashing or depositing the check, please call the company the FTC hired to manage the refund process. That is Rust Consulting, at 1-866-730-8147. Rust Consulting will tell you how to verify that the check is legitimate.
In reply to Are these checks real? by lisa_1_4
If you get a check from the Federal Trade Commission, it will come with an explanation of why you got the check and details about the case. You, and the bank, can look at www.FTC.gov/AMG for details about the refund. If you get a check, you should cash or deposit it within 60 days.