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The Federal Trade Commission accused 14 companies owned by two Johnson County men, Timothy A. Coppinger and Frampton T. Rowland III, of using online data $255 payday loans online take out loans for people without their permission. The companies - including CWB Services LLC, Anasazi Group LLC and Sandpoint Capital LLC - targeted borrowers who had gone online to research short-term payday loans, which tend to be small-dollar loans repaid in two-week increments.
Borrowers would type their personal financial information, including checking account and routing numbers, into third-party websites known as lead generators to see whether the sites could match them with a lender. But most never formally applied for any loans, according to the complaint filed by the FTC. Be the first to know.
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