Free Guide to Transform Risk Reporting with Insights and Predictive Analytics
Identifying emerging risks is critical to most risk executives, but to do that effectively requires transforming from basic risk reporting to using analytics, business intelligence and AI-based business tools to identify useful insights and predict potential risks. Learn how organizations can turn Risk Management into a competitive advantage. (For your free guide click here.)
Online lender pays $3.85M to settle FTC charges
The Federal Trade Commission has announced that Avant, LLC, an online lending company, has agreed to settle Commission charges that it engaged in deceptive and unfair loan servicing practices, such as imposing unauthorized charges on consumers’ accounts and unlawfully requiring consumers to consent to automatic payments from their bank accounts. The FTC charged that, in many cases, the company falsely advertised that it would accept payments by credit or debit cards, when in fact it rejected these forms of payments. The FTC also alleged that the company withdrew money from consumers’ accounts or charged their credit cards without authorization. In some instances, Avant charged consumers duplicate payments without authorization, improperly taking consumers’ monthly payments twice or more in one month. In one egregious example, one consumer’s monthly payment was debited from his account 11 times in a single day. See our Penalty Pages entry for additional information.
- FTC Complaint