Texas AG Recovers Millions for Seniors Scammed in Fraudulent Loan Scheme
· Texas Border Business
Texas Attorney General Ken Paxton announced a multistate settlement with GreenSky Holdings, LLC, following an investigation that revealed deceptive practices targeting seniors and disabled Texans. The settlement totals $10 million, which includes consumer restitution and civil penalties. Complaints indicated that loans were issued without consent, terms were misrepresented, and vulnerable individuals were pressured into agreements. GreenSky, known for facilitating home improvement loans, will also face new regulations to prevent future misconduct, including enhanced protections for seniors and disabled individuals, as well as annual compliance reports to the Attorney General’s office.
AI summary · Source: Texas Border Business →
