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Consider the following tips to avoid potentially damaging scams. 1. Unrealistic guarantees for approval. One of the easiest ways to spot a loan scam is the promise of guaranteed approval.
First Data Resources (FDR) was founded in Omaha, Nebraska in June 1971 by Perry "Bill" Esping, along with Mike Liddy and Jack Weekly. [14] [15] It started off by providing processing services to the Mid-America Bankcard Association (MABA). In 1976, First Data became the first processor of Visa and MasterCard bank-issued credit cards. [16]
Equity stripping or equity skimming is a variation on lease-buyback and is one of the most common types of foreclosure rescue schemes. [4] In it, the perpetrator assumes ownership of the house while allowing the former owner to continue living there, provided that s/he pay rent to the perpetrator, who is the new owner.
Mortgage fraud by borrowers from US Department of the Treasury [7]. Mortgage fraud may be perpetrated by one or more participants in a loan transaction, including the borrower; a loan officer who originates the mortgage; a real estate agent, appraiser, a title or escrow representative or attorney; or by multiple parties as in the example of the fraud ring described above.
The Internet Crime Complaint Center's latest scam alert includes a bogus advance-fee email purportedly sent by the director of the FBI as well as harassing payday loan calls from scammers claiming ...
More than 27,000 are set to receive checks from the federal government in the wake of a 2019 Federal Trade Commission lawsuit.
OneMain Financial is a financial services company that offers loans and credit card products. The company, which has been in business since 2010, has 1,400 branches in 44 states and is best known ...
Scott Tucker ran several payday loan service companies under several different names (including AMG Capital Management) over a fifteen-year period. The companies drew consumer complaints for charging excessively-high interest rates on the loans, with those using their services paying nearly triple what they had taken as a loan, charged through undisclosed fees.