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Released: July 26, 2011
Scamwatch: Payday loans, gold mines, rental housing
Source: Stuart Pfeifer, L.A.Times (Free Registration)
Payday loans -- At the request of the Federal Trade Commission, a federal court has ordered a Redwood City, Calif., company to pay more than $4.8 million for deceiving hundreds of thousands of payday loan applicants into paying for unwanted debit cards. Swish Marketing Inc. operated websites that offered to connect loan applicants with lenders. Applicants who applied for short-term or “payday” loans often ended up unknowingly ordering debit cards for which they were charged $54.95, unless they checked a box saying they didn’t want them. In addition to the fine, the court order prohibits Swish from promoting any product for which customers will be charged unless they opt out. Housing rentals –- The Better Business Bureau is cautioning consumers to be careful when searching for rental housing on the Internet. Scammers have posted phony ads on Craigslist and other sites and tricked renters into paying deposits for homes they did not own.Read Full Article: Scamwatch: Payday loans, gold mines, rental housing
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