Curious about this
Date: Mon, 10/22/2012 - 22:44
If we extend credit to a consumer, we will consider the bank account information provided by the consumer as eligible for us to process payments against. In addition, as part of our information collection process, we may detect additional bank accounts under the ownership of the consumer. We will consider these additional accounts to be part of the application process.
So If I read this right they are basically saying that they will look for any bank a person may have an account with and drain those accounts as well? Is this even legal?
No and that is very illegal. That cannot be legally done without
No and that is very illegal. That cannot be legally done without a judgement OR being DHS/IRS. This is 100% illegal lender
Wow - that is crazy -- who is the lender? We should all be made
Wow - that is crazy -- who is the lender? We should all be made aware of that one's name...
I've seen that on a few sites as well. No, it's not legal but n
I've seen that on a few sites as well. No, it's not legal but nothing they're doing is so, I'm not surprised by it.
sounds like
GRC(geneva roth corp)as they have several d/b/a's and i have seen on this forum(not in awhile though)of them doing this.golden your friend needs to hold on to their paperwork on this lender as just in case this lender tries that the ACH revocation letter your friend used will come in handy to have any attempt at debiting the new account will be returned as fraudulant.again i have seen it happen on here,but only GRC and their affiliates,and not in awhile.
Yeah I thought that was illegal, just surprised they boldly ment
Yeah I thought that was illegal, just surprised they boldly mentioned it on the website. cashyes.com they are illegal themselves so I guess you are right..no surprise heh.
Just trying to understand
I agree, it sounds really scary. But could those of you that stated this is illegal tell me what law, statute or regulation it violates? I would really appreciate your help. Thank you!
well
the EFTA(electronic funds transfer act)is a federal law that supercedes anything on an illegal pdl contract.