Fintech Co. iStream Pays $2.3 Million to FTC

By Hannah Albarazi (February 24, 2022 5:44 p.m. EST) – Payment processing company iStream and its top executives told a federal judge in Georgia on Thursday that they have agreed to pay $2.3 million to the Federal Trade Commission and to cooperate in the agency’s investigations of its clients, some of whom are accused of charging over $43 million in illegal fees to payday loan applicants.

The FTC — which alleges that dozens of companies have deceived short-term loan applicants by charging fees for fake online discount club memberships without their permission — requested Judge William M. Ray II of the U.S. District Court for the Northern District of Georgia to sign off in business…

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