Savvy Consumer Information Center - Scams and Frauds
Savvy Consumer Information Center - Scams and
Frauds
Scams and
Frauds
Here are some of the
latest Scams, Frauds, and Consumer Abuse items in the news.
Cars - Computers -
Education -
Employment - Family - Federal Programs - Food
Health - Housing - Money - Small Business - Travel - And
more...
Nearly 28,000 First Alliance Borrowers Will Share an
Initial Redress Pool of Almost $45 Million -
Nearly 28,000 borrowers will start receiving compensation checks this week from an initial redress pool of almost $45
million that resulted from an FTC settlement with home mortgage lender First Alliance Mortgage Company. Some
20,000 borrowers who obtained home mortgage loans through First Alliance will receive a portion of the loan origination
fees charged them by the company, while about 8,000 borrowers who previously released their rights against First
Alliance in a separate action will receive $500 each. According to the settlement, the consumer redress pool will receive
additional funds as certain legal proceedings involving First Alliance are resolved. The 20,000 consumers receiving an
initial refund this week can expect additional compensation in 2003 once those funds are received.
Read
more...
Back to Scams and
Frauds
Get the Savvy Consumer Newsletter! (FREE)