Even after multimillion-dollar settlement, customers still have trouble with fast loan company – WSB-TV Channel 2

ATLANTA — An Atlanta company has agreed to pay customers millions of dollars after it admitted violating federal law.

GreenSky calls itself a technology company, not a bank. Its loans are disbursed directly to vendors or merchants, not to the customer. Justin Gray, Channel 2 Consumer Investigator has been reporting on GreenSky for over a year.

Several clients reported receiving loans they never applied for. Others said they were promised a low interest rate and then charged almost 30%.

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As part of the multimillion-dollar settlement with federal regulators, GreenSky not only agreed to reimburse customers it harmed, but also to change its business practices going forward.

In March, banking giant Goldman Sachs bought GreenSky for $2.2 billion.

But customers told Gray the problem persisted.

A Goldman spokesperson sent Gray a statement saying, “We take concerns raised by our customers very seriously and work to ensure that the service provided to them by their merchants is consistent with our core values ​​so that their experience is simple, transparent and adds value. .”

The complaints that have piled up since federal regulators intervened, on Channel 2 Action News at 6 p.m.

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