The borrower’s information typically remains available for sale, which creates opportunities for fake debt collection schemes, fraud and identity theft, according to the 2014 Pew report after a lender buys a particular lead.
United states Banker found adverts on Bing from lead generators that appeared to be wanting to game the company’s 36% APR limit.
OnlyLoanz.com had been one of many advertisers. Whenever users clicked until the company’s website, they landed on a typical page which had an APR disclosure section. (more…)