The U.S. Federal Trade Commission has scored a record $1.27 billion judgment against race car driver Scott Tucker and several of his companies as part of an alleged deceptive payday lending scheme.
The FTC sued Tucker and several of his companies in 2012 alleging an “interrelated network of companies” that included four payday lenders ran up finance fees against borrowers of quick loans. In a Sept. 30 order granting summary judgment for the FTC, Nevada Chief Judge Gloria Navarro found Tucker and his companies liable for $1.27 billion in consumer losses, the largest judgment the FTC has ever obtained in a case that was litigated.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
