Business

September 17, 2014 5:17 PM

Federal regulators take action against Kansas City payday lender Hydra Group

The Consumer Financial Protection Bureau said the payday lender used phony documents to claim that a person had applied for a loan. It then deposited unauthorized funds in the person’s bank account and began withdrawing unauthorized fees. A loan would typically be $200 to $300, with $60 to $90 in fees withdrawn every two weeks.

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