It’s being called the biggest redress program in FTC History..a whopping $1/2 Billion dollars going back to more than a million victims of a massive payday loan scam.

According to Federal Officials, who add, “In its 2012 complaint, the FTC alleged that the operators of AMG Services, Inc. falsely claimed they would charge borrowers the loan amount plus a one-time finance fee. Instead, the defendants made multiple withdrawals from consumers’ bank accounts and assessed a new finance fee with each withdrawal. As a result, consumers paid far more for the loans than they had originally agreed to pay.”

They add “The FTC and Department of Justice are jointly using funds obtained in the civil and criminal matters to provide refunds to consumers who took out loans before January 2013 from the following seven loan portfolios serviced by AMG Services: 500FastCash, Advantage Cash Services, Ameriloan, OneClickCash, Star Cash Processing, UnitedCashLoans, and USFastCash.