Public Citizen Urges Congress to Protect Consumers from Payday Predators

On the heels of a Supreme Court ruling that favored legalized loan sharks, consumer advocacy group Public Citizen called on Congress to take immediate action to update and improve current law.

The U.S. Supreme Court issued an opinion today in AMG Capital Management, LLC v. FTC, holding that Section 13(b) of the Federal Trade Act does not empower the Federal Trade Commission (FTC) “to seek, or a court to award, equitable monetary relief such as restitution” or other restorative relief. Public Citizen filed an…