Race Car Driver Fined $1.27 Billion

Recently, a federal judge in Nevada sent race car driver Scott Tucker and his companies a bill for $1.27 billion from the Federal Trade Commission (FTC).

It was found that Tucker systematically deceived customers about the cost of their loans, charging them up to 700% interest. The judge noted that the customers often did not understand the terms of their loans. He also found that the finance charge stated in the documents was sometimes a third of what actually was being charged.

Tucker, who races in the US and Europe, faces separate criminal charges in Manhattan. Prosecutors have accused him of running a $2 billion payday lending schemes that has exploited 4.5 million consumers. The trial is set for April of 2017.

Payday Lending Fraud a Rampant Problem

While payday lending appears to continue to take unfair advantage of people, we are only left to wonder whether the federal regulation will now be eliminated.

Our firm has been handling personal injury cases throughout the California Low Desert and High Desert communities for over 30 years. With a 95% success rate, the California personal injury attorneys at Walter Clark Legal Group will fight to hold those responsible for your loss accountable and win compensation to cover medical bills, lost wages, and pain and suffering. If you have been injured and want to discuss your legal options, contact us today for a free consultation with an experienced personal injury lawyer. We have offices in Indio, Rancho Mirage, Victorville, and Yucca Valley and represent clients through the entire California Low Desert and High Desert communities.

DISCLAIMER: The Walter Clark Legal Group blog is intended for general information purposes only and is not intended as legal or medical advice. References to laws are based on general legal practices and vary by location. Information reported comes from secondary news sources. We do handle these types of cases, but whether or not the individuals and/or loved ones involved in these accidents choose to be represented by a law firm is a personal choice we respect. Should you find any of the information incorrect, we welcome you to contact us with corrections.

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