Avant Settles With the FTC for $3.85 Million

Avant will pay $3.85 million to settle with the Federal Trade Commission for allegations that it misled customers who were seeking to repay their loans; the allegations involved the firm’s loan servicing practices where Avant allegedly informed consumers that they could make payments by credit card or debit card but then refused to accept such payments; they were also accused of charging payments that consumers did not authorize; CEO Al Goldstein said, “We are pleased that this matter is resolved. Our focus and commitment have always been on providing our customers with transparent and complete information that helps them make smart financial choices and borrow money responsibly.” Source.

  • Peter Renton

    Peter Renton is the chairman and co-founder of Fintech Nexus, the world’s largest digital media company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series.