From the FTC's press release:
At the Federal Trade Commission’s request, a U.S. district court in Missouri has temporarily halted an online payday lending scheme that allegedly bilked consumers out of tens of millions of dollars by trapping them into loans they never authorized and then using the supposed “loans” as a pretext to take money from their bank accounts.
The court imposed a temporary restraining order that appoints a receiver to take over the operation. The court order gives the FTC and the receiver immediate access to the companies’ premises and documents, and freezes their assets.
The FTC alleges that the defendants violated the FTC Act, the Truth in Lending Act, and the Electronic Funds Transfer Act, and it is asking the court for a permanent injunction stop the defendants’ practices.
