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 is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech.

LendIt Fintech conducts three conferences a year for the leading fintech markets of the USA, Europe, and Latin America. LendIt also provides cutting-edge content all year long via audio, video, and written channels.

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.

Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.

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