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Government Politics. Firms accused of faking loans, draining bank accounts settle with feds. By LINDSAY WISE. July 07, 2015 12:53 PM. A huge payday lending operation based in Kansas City will be banned from offering any more loans under a 54 million settlement announced by federal regulators Tuesday. Low payment cash loans Federal Trade Commission accused 14 companies owned by two Johnson County men, Timothy A.
Coppinger and Frampton T. Rowland III, of using online data to take out loans for people without their permission. The companies - including CWB Services LLC, Anasazi Group LLC and Sandpoint Capital LLC - targeted borrowers who had gone online to research short-term payday loans, which tend to be small-dollar loans repaid in two-week increments.
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