The operators of the scheme the falsely promised to help consumers get loans, but instead used personal financial data to take money from bank accounts without consent, have settled FTC charges. more »
"When borrowers could not pay back their loans, ACE would subject them to illegal debt collection threats and harassment," the CFPB's Cordray said.
WASHINGTON The Consumer Financial Protection Bureau has yet to issue broad rules for payday lenders, but the bureau's $10 million settlement with ACE Cash Express Thursday sends another strong message about the practices it may target. more »