A unique on the web comparison site could be serving being a gateway to lending that is dangerous.
The newly launched Payday Hound website advertises itself as providing “impartial and informed” reviews, comparing the prices and costs of a large number of online loan stores, including alleged payday loan providers, pawn stores along with other lenders that are short-term. But most of the website’s information raises alarms in regards to the protection of taking right out loans that are online customer advocates stated.
Associated with lots of internet sites noted on the Payday Hound, a minumum of one happens to be charged because of the Federal Trade Commission for unlawful behavior. Your website, 500FastCash, ended up being sued because of the FTC during the early April for allegedly incorporating undisclosed and inflated costs, and gathering loans illegally by threatening borrowers with arrest and legal actions. Although the Payday Hound provides 500Fast money an undesirable review, the Payday Hound nevertheless links to 500FastCash’s application for the loan. 500FastCash didn’t get back a demand touch upon Thursday.
“this amazing site is detailing a lender this is certainly at the mercy of FTC enforcement action,” noted Jean Ann Fox, manager of monetary solutions when it comes to customer Federation of America, which was critical of payday lenders. Continue reading “Payday Hound Comparison Website Points To Alleged Prohibited Lender, Offshore Loans”