OKLAHOMA CITY, OK -- (Marketwire) -- 02/22/13 -- American Web Loan (www.americanwebloan.com) has issued a statement in connection with the recent lawsuit filed by the FTC against online marketer Ideal Financial Solutions for alleged unauthorized debiting of customer accounts as well as Ideal Financial Solutions' alleged practice of charging application fees to obtain small dollar loans.
The complaint is available here: http://www.ftc.gov/opa/2013/02/idealfinancial.shtm
Statement from Jamie Schumann, Managing Director of American Web Loan in reference to FTC Lawsuit filed against Financial Solutions.
AWL supports any action designed to protect consumers from fee cramming while protecting consumer access to their own choice of financial products and services.
American Web Loan is committed to industry best practices as set forth by the Online Lenders Alliance and the Native American Financial Services Association (NAFSA) and to ensure a positive client experience. Our company joins with the Online Lenders Alliance (OLA) in protecting consumers from 'fee-cramming' and providing consumers access to the loan product and service that best meets their financial needs.
There must never be a situation where a customer has to pay to apply to receive a loan. As a member of both OLA and NAFSA, American Web Loan ensures that we will never charge any fees to customers prior to providing credit.
We encourage consumers who feel they have fallen victim to a "fee-cramming" operation to contact their local law enforcement authorities and the Federal Trade Commission. Questions or concerns can also be directed to OLA's consumer hotline: 866-299-7585.
About American Web Loan:
American Web Loan is a tribal lending company that is wholly owned by the Otoe-Missouria Tribe of Indians and its members, a sovereign nation located within the United States of America. AWL is dedicated to providing short-term financial solutions to Americans in need. Since its formation in 2010, American Web Loan has built a nationwide reputation for spearheading the industry's most innovative financial products backed by a singular commitment to client service excellence. The company combines an unparalleled team of experienced and dedicated financial professionals with state-of-the-art online technologies to successfully meet emergency financial needs. In addition to its sought-after portfolio of loan choices, American Web Loan offers comprehensive customer loyalty and financial education programs expressly designed to help solve money challenges in the short-term and improve clients' lives in the long-term. American Web Loan is a member of The Native American Financial Services Association (NAFSA), formed in 2012 to advocate for Native American sovereign rights and enable tribes to offer responsible online lending products.
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