Fintech Co. iStream to pay FTC $2.3M, helps probe incidental charges

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By Hannah Albarazi (February 24, 2022, 5:44 PM EST) — Payment processing company iStream and its top brass told a Georgia federal judge on Thursday that they had agreed to pay $2.3 million to the Federal Trade Commission and to cooperate with the agency’s investigation of its clients, some of whom are accused of charging payday loan applicants more than $43 million in illegal fees.

The FTC – which alleges that dozens of companies deceived applicants for short-term loans by charging fees for fake online discount club memberships without their permission – asked court judge William M. Ray II of the U.S. District of the Northern District of Georgia to sign on to an agreement…

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