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FTC Returns Almost $2 Million to Payday Loan Applicants Who Were Tricked into Buying Prepaid Debit Cards 

September 1, 2011 –The Federal Trade Commission is mailing more than 110,000 refund checks to consumers defrauded by an online operation that tricked payday loan applicants into paying for an unrelated debit card. The FTC alleged that payday loan marketers Matthew Patterson, Mark Benning, Jason Strober, and Swish Marketing, Inc., worked with debit card marketers Jerry Klein, Joshua Finer, and VirtualWorks, LLC, to design the deceptive payday loan application form that triggered a charge of up to $54.95 for a prepaid debit card with a zero balance. Approximately $1.9 million is being returned to consumers; the average payment will be between $10 and $15. Read more
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