Fresh Off a Huge Settlement, Associates is Sued by FTC
March 12, 2001
The Federal Trade Commission has sued the nation’s largest subprime mortgage lender, Associates First Capital Corp., for allegedly engaging in predatory lending practices. The FTC complaint against Associates and its subsidiary, Associates Corp. of North America, was filed in a Georgia federal court last week, six months after the lender signed a $12 million agreement in Pennsylvania federal district court to settle similar charges.