FTC Action causes $4.8 Million Judgment Against Deceptive advertiser; Company Tricked Payday Loan Applicants into Buying Prepa

FTC Action causes $4.8 Million Judgment Against Deceptive advertiser; Company Tricked Payday Loan Applicants into Buying Prepa

A federal court has ordered Swish Marketing, Inc. to pay more than $4.8 million for tricking hundreds of thousands of payday loan applicants into paying for an unrelated debit card at the request of the Federal Trade Commission. The FTC is closely monitoring payday financing and other economic solutions to safeguard economically troubled customers.

In accordance with the FTC’s issue, Swish Marketing, Matthew Patterson, Mark Benning, and Jason Strober operated web sites marketing short-term, or “payday,” loan matching services that purportedly matched loan applicants with loan providers.

The web sites included an on-line application for the loan kind that tricked online loan candidates into unwittingly buying a debit card.

On numerous web sites, pressing the switch for publishing loan requests resulted in four item provides unrelated towards the loan, each with small “Yes” and “No” buttons. […]