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If you took out an online payday loan from a company affiliated with AMG Services, you may be getting a check in the mail from the FTC. The $505 million the FTC is returning to consumers makes this the largest refund program the agency has ever administered.

The FTC sued AMG and Scott A. Tucker for deceptive payday lending. When consumers took out loans, AMG said they would charge a one-time finance fee. Instead, AMG made multiple illegal withdrawals from peoples’ bank accounts and charged hidden fees. As a result, people paid far more for the loans than they had agreed to.

In 2016 the FTC won a court case against AMG and Scott Tucker. Then in 2017, a jury convicted Tucker and his attorney of crimes related to the lending scheme. The FTC and Department of Justice are using money obtained in both court actions to give refunds to consumers.

Here are answers to questions about AMG refunds.

Who will get a refund? Checks are being sent to consumers who took out loans between January 2008 and January 2013 from these AMG-related companies: 500FastCash, Advantage Cash Services, Ameriloan, OneClickCash, Star Cash Processing, UnitedCashLoans, and USFastCash.

How many people will get refunds? More than 1.1 million people will get refunds.

How does the FTC know who to send the checks to? The FTC and a refund administrator have used AMG’s business records to identify eligible consumers and calculate their refunds.

I’m eligible for a refund. What do I need to do? If you borrowed from one of the lenders listed above between January 2008 and January 2013, you don’t need to do anything. The checks are being mailed to eligible consumers automatically. There is no application process. If you borrowed from one of those lenders before January 2008, please call 1-866-730-8147.

How can I get more information? Visit the FTC’s AMG refund page or call 1-866-730-8147.

Three tips from the FTC:

  1. If you get a check, deposit or cash it within 60 days.
  2. The FTC never asks people to pay money or give information to cash refund checks. If someone asks you to pay to get a refund from the FTC, it’s a scam.
  3. The FTC has advice if you’re thinking about a payday loan or an online payday loan.
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LilMae
October 08, 2018
How long does it take for these checks to clear? Does anyone use TD Bank and if so did they have any issues with deposits!?
esmccallass
October 10, 2018

In reply to by LilMae

I use Td bank. My check has been hold since Oct 2. I contacted the bank and was told that the funds should be released through business on Oct 10. Still waiting.
Myluna
October 08, 2018
For all the people that have said their refund checks had cleared...besides US Bank, what other banks did it cleared with? Was SunTrust bank one of them? Just wanted to know because I haven't deposited it to my bank account yet.
Nae76
October 09, 2018
I used the loan company but didn’t receive a check. I wonder why I didn’t get a check
Question
October 09, 2018
Does this have to be cashed at a bank or can I go to a check cashing place.
Imurgurl3
October 09, 2018
What if I moved since then?
mwebb
October 09, 2018
well i got a check that said refund from being over charged. i went ahead and deposited but he want clear. has anyone else had this problem.
compone46
October 09, 2018
i currently have loans through 500 fast cash and one click cash i have noticed a transaction fee each month i think they are still doing it
FTC Staff
October 09, 2018

In reply to by compone46

You can tell the FTC about a problem with a payday loan company at www.FTC.gov/Complaint. Or, contact the Consumer Financial Protection Bureau at www.consumerfinance.gov.

 

Anonymous1
October 09, 2018
I see several people saying their checks cleared, some getting fraud alerts,and some unable to be cashed. Why would the FTC or whoever sent these checks out to so many people want to defraud hardworking citizens who need this money? This whole thing just doesn't make sense. And why now? How do we even know the website is real? Just very concerned about this whole ordeal.
FTC Staff
October 09, 2018

In reply to by Anonymous1

Checks from the FTC are legitimate. When you get a check from the Federal Trade Commission, it comes with a letter that explains why you got the check and gives details about the case. You are reading about the refunds right now on a federal government website. You can read more about the case and refunds at www.FTC.gov/AMG. You can see the refunds listed on Recent FTC Cases Resulting in Refunds at www.FTC.gov/Refunds.

You can call the company that the FTC hired to manage the refund process at 1-866-730-8147. If you get a check, you should cash or deposit it within 60 days.

Dalesommer68
October 09, 2018
Wells fargo states that the checks are not legit and sent me back my check. Thanks for getting our hopes up.
FTC Staff
October 09, 2018

In reply to by Dalesommer68

Checks from the Federal Trade Commission are legitimate. You can show the bank the case page on the FTC website:  www.FTC.gov/AMG.  You can show the bank the list of Recent FTC Cases Resulting in Refunds at www.FTC.gov/Refunds.

You could call the company the FTC hired to manage the refund process. That is Rust Consulting, at 1-866-730-8147. Rust Consulting will tell you how to verify that the check is legitimate.

Curious
October 09, 2018
If checks are legitimate why can't they be cashed at walmart never had a problem cashing any other check there.
wondergirl33
October 09, 2018

In reply to by Curious

Wal Mart was unable to cash my check, declined. I did deposit at bank but now have to wait to see if it clears. Rust Consulting did have some checks bounce on another type of case settlement. The letter said cash in 60 days or may BOUNCE, if the funds were collected and deposited the money should be available. Hope mine clear, waiting
Lady B
October 09, 2018
I just called US Bank to see if the check was a legitmate and he told me it was
Floridabucks
October 09, 2018
Did anyone use Suntrust to deposit? I mobile deposited it last night and it is on hold. I have not had time to call the bank yet today. I mobile deposit constantly, and it is ALWAYS available the next day.
Myluna
October 10, 2018

In reply to by Floridabucks

I made a deposit in person yesterday early morning at SunTrust for $1,300+ for my refund. This morning I had checked my account online and it has already cleared. I was so surprised there was no hold or any issues with depositing the check! For everyone who is skeptical out there like I was at first, these refund checks are legit if yours came with a letter attached with it from the FTC explaining why you are receiving this refund check. Thank you so much, FTC and everyone else that was involved in fighting against AMG and other affiliated companies for their schemes! And for winning so we, the victims can get our money back that the loan companies had illegally over charged us with hidden fees and such!
D102380$Pon't …
October 09, 2018
I wonder if my husband will get one. he made some payday loans also.
Floridabucks
October 09, 2018
Has anyone used Suntrust to deposit? I did yesterday and today there is a hold on it.
justblessed18
October 09, 2018
i took out a few payday loans in the past...but im not on the list for a refund check...i called the number and im not in there system.
Geraldine
October 12, 2018
I borrowed from 500Cash and United Cash in 2007 were these refund in the check I recieved on 10/1/2018. The withdrawals from my checking account at Commerce Bank, now TD Bank. I posted this comment on blog 10/18 check comment for answer to above question., didnot see answer. Bridget Small please reply thank you in advance. Thank you ever so much for refund ...
FTC Staff
October 12, 2018

In reply to by Geraldine

You might get one check, or you might get more than one check. The number of checks you get is connected to the name, address and account information the FTC found about you.

The FTC tried to combine information about accounts so it could send one check to each person. But sometimes it wasn't clear whether information was about one person or two people. When information was not clear, we did not combine it. For example, we did not combine accounts that had a maiden name and a married name, or accounts that had one name but two addresses. When we saw that, we sent separate checks.

tjsranch
October 09, 2018
Wonderful surprise. Came at a great time. Restores my faith!
Blueeyes1366
October 10, 2018
I know I should have more then $106.82 coming to me. I have gotten many ( I mean a lot ) of payday loans from one click cash. What if I don’t agree with the amount given to me. Who do I contact?
FTC Staff
October 10, 2018

In reply to by Blueeyes1366

Please use the contact information listed in the blog. You can call the company that the FTC hired to manage the refund process at 1-866-730-8147.

Roman
October 09, 2018
I deposited the check, my bank accepted it then debited my account saying it was not a cashable check. I called US BANK the check was drawn on a US BANK check and they would not verify the check saying they have never heard of it. I’m pissed, is this a scam?? Now my bank has to mail it back to me.
FTC Staff
October 10, 2018

In reply to by Roman

Checks from the FTC are legitimate. If you have trouble cashing or depositing the check, please call the company the FTC hired to manage the refund process. That is Rust Consulting, at 1-866-730-8147. Rust Consulting will tell you how to verify that the check is legitimate.

Gethsemane
October 10, 2018
My bank said that they have been notified by the “paying bank” that the check might not be honored an they put a 7 day hold on it, and told me that they would charge me a fee if it is returned.
Miner570
October 10, 2018

In reply to by Gethsemane

I had the same issue and they debited my account for the entire amount of check and are charging me a fee but won’t tell me why they are charging me they just said the check is no good I have to wait till Friday the 12 th to find out the reason
FTC Staff
October 10, 2018

In reply to by Miner570

Please write back and tell us why they said the check wasn't good. Checks from the FTC are legitimate, and you shouldn't have had a problem.

Miner570
October 11, 2018

In reply to by FTC Staff

BridgetSmall-FTC I will as I said I have to wait till Friday to find out why Thanks for your help I did my due diligence and asked all the right questions and even called my Congressman's Office which said it was legit
FTC Staff
October 11, 2018

In reply to by Miner570

Miner570, Yes, the checks are legitimate. Please let us know what you find out on Friday. We want people to be able to cash or deposit the checks.

Miner570
October 15, 2018

In reply to by FTC Staff

Bridget Small-FTC the bank finally took off hold and apologized but had to jump through hoops to get the bank to call the number and verify! THANK YOU
FTC Staff
October 16, 2018

In reply to by Miner570

Miner 570 - That's great, thanks for letting me know.

Curious
October 12, 2018

In reply to by FTC Staff

Miss Small if check is actually legit them why is it not printed on check stock paper?
LeeryInNC
October 10, 2018
I'm very leery about this refund check. Can everyone who deposited this check into their bank accounts, and the check was put on hold; please post "updates" on the status of those checks so far? I received a large check as well and I need to know what to look for. I'm never doing this again, I don't care how much it is. Too much dang stress.
Floridabucks
October 10, 2018

In reply to by LeeryInNC

I had a one day hold and today my money was available with Suntrust Bank.
ninjackie81
October 10, 2018

In reply to by LeeryInNC

I deposited my check into my savings on 10/2 and confirmed clearance two days later with a rep from my credit union even though the money had been available SAME DAY. It has been 8 days and no return of check or debiting of my balance. Hope this helps and good luck.
Concerned
October 11, 2018

In reply to by LeeryInNC

UPDATE: LeeryinNYC - I deposited my check (over $12000) on 10/1 via ATM. My bank put a hold on it. I got a letter on 10/4 stating funds would be held until 10/11 (there was concern the check may not be paid). I was concerned that I’d been scammed because so many others were saying their checks had been cashed or cleared without issue. I’m happy to say the hold was released this morning and funds are in my account. The check is legitimate.
Concerned
October 11, 2018

In reply to by Concerned

Correction: the check was above $1200 (not $12000)
Angeleyes05
October 10, 2018
Are these payday loan only pertaining to online pay day loan
FTC Staff
October 10, 2018

In reply to by Angeleyes05

Checks are being sent to consumers who took out loans between January 2008 and January 2013 from these AMG-related companies: 500FastCash, Advantage Cash Services, Ameriloan, OneClickCash, Star Cash Processing, UnitedCashLoans, and USFastCash.

BPB
October 10, 2018
UPDATED INFORMATION If you receive a check form FTC and all details about the check is backed up by information you read on this blog or on FTC website this check is good. I deposit my check by ATM on the 2nd. It did not clear after the first day. I called the bank and they told me depending on the type of check it is standard procedure to put a hold on a check. They told me funds will be available on the 10th and a letter will be sent out explaining the hold. The letter stated that they were concern about the legitimacy of the check but if it comes back good that my funds would be available. Please to say check is good and my funds are available this morning. I bank with Capital One.
DKN
October 10, 2018
I'm getting really depressed. Some are saying they have been able to cash the check and some say they can't. Who do you believe? My bank still has a hold on mine. I'll worry until it clears it doesn't.
alortizdiaz44
October 10, 2018
I received $1,425.57. Bank is withholding $425.57 until check clears. It has been five days and still waiting. Hopefully it will clear soon. Thanks FTC.
ANN
October 10, 2018
Wow! some of the prices of the check is unbealivable. My total was only $98.00. However, partial means that we accepted the check for less than the full amount. IF you cashed the check, you accepted that amount and no other paymendt will be mailed out. Bummer, I did not know this at first but anyhow, Im happy for the $98.00.
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