Jump to content

Photo

Can someone give Scott Tucker a loan?

- - - - -

  • Please log in to reply
11 replies to this topic

#1
CruzanTom

CruzanTom

    Member

  • Members
  • PipPipPip
  • 295 posts
  • Location:SC
  • Region:Southeast
  • Car Year:1999
  • Car Number:44

He needs a few bucks, I am sure he will pay it back with "fair" interest.

 

9th Circ. Upholds $1.3B Award Over Payday Loan Scheme

Law360 (December 3, 2018, 8:15 PM EST) -- A Ninth Circuit panel on Monday upheld a $1.3 billion award against pro race car driver Scott Tucker's loan companies, rejecting his arguments that his customers would not have been deceived by the loan terms because he included fine print clarifying the payment schedule.

 

.  .  .

 

In October 2016, U.S. District Judge Gloria Navarro found a number of payday loan companies associated with Native American tribes and controlled by Tucker had deceived and overcharged customers in violation of the Federal Trade Commission Act and the Truth in Lending Act. The court ordered Tucker to pay $1.3 billion in restitution.

Tucker appealed that decision and told the Ninth Circuit panel in August that the loan contracts weren't deceptive. They included all the information required of a so-called TILA box, the standardized format for disclosing the rates and terms of a loan agreement required under the Truth In Lending Act, he said.

 

https://www.law360.c...campaign=sports


Tom Hart

#44 SM and T-4

2014 SC Driver of the Year

2015 SE Championship Series Spec Miata Champion

2016 SE Championship Series Spec Miata Champion

We have a Winnah! - Won their 1st race... Congratulations! Bona fide - A bonafide Spec Miata driver Donor - Made PayPal donation

#2
Steve Scheifler

Steve Scheifler

    Veteran Member

  • Members
  • PipPipPipPipPip
  • 2,816 posts

Now he’s being called a “pro race car driver”. Then again, he probably paid himself a fortune to drive so technically I guess it’s accurate.
Instigator - Made a topic or post that inspired other Broken record - You are starting to sound like a broken record.

#3
EMatoy

EMatoy

    Member

  • Members
  • PipPipPip
  • 103 posts
  • Region:Detroit
  • Car Year:1990
  • Car Number:73
The Netflix show on this was interesting. Seems to match what is reported from the courts too.
  • powerss likes this

#4
Marc Cefalo

Marc Cefalo

    Member

  • Members
  • PipPipPip
  • 159 posts
  • Location:Northeast Pa
  • Region:NEPA
  • Car Year:1997
  • Car Number:#00

The Netflix show on this was interesting. Seems to match what is reported from the courts too.

 

also dinner with racers had a podcast interviewing him.  both the dirty money netflix series with him and the podcast painted a picture of scott being a total d'bag.  


Marc Cefalo

www.planet-miata.com

 

570-262-1013 direct

#1 source for new and used Miata parts and accessories.

We have a Winnah! - Won their 1st race... Congratulations! Bona fide - A bonafide Spec Miata driver

#5
Bench Racer

Bench Racer

    Different strokes for different folks : )

  • Members
  • PipPipPipPipPip
  • 5,508 posts
  • Location:Wauwatosa, WI
  • Region:Milwaukee
  • Car Year:1990
  • Car Number:14

El Chapo gets no conjugal visits, neither should this fleece. 


Broken record - You are starting to sound like a broken record. Donor - Made PayPal donation Bona fide - A bonafide Spec Miata driver

#6
Sphinx

Sphinx

    Veteran Member

  • Members
  • PipPipPipPipPip
  • 651 posts
  • Location:Atlanta
  • Region:ATL

For those without Law360 access, https://www.salemnew...86fba93304.html



#7
38bfast

38bfast

    Veteran Member

  • Members
  • PipPipPipPipPip
  • 1,113 posts
  • Location:Sterling Heights, MI
  • Region:OVR
  • Car Year:1999
  • Car Number:38
I know its a crappy way to make money, off the less fortunate. But if he disclosed his rates and terms to all his customers up front, his customers made a choice. Now if he went beyond what he advertised I see issue with that. I don’t know all the fine details of his case. I have seen what his advertised rates and terms are and would never ever sign up to that deal.
Ralph Provitz
V2 Motorsports

#8
Jim Drago

Jim Drago

    East Street Racing / 2 Time National Champion

  • Administrators
  • 6,566 posts
  • Location:Memphis, Tn
  • Region:Mid South
  • Car Year:2005
  • Car Number:2

I know its a crappy way to make money, off the less fortunate. But if he disclosed his rates and terms to all his customers up front, his customers made a choice. Now if he went beyond what he advertised I see issue with that. I don’t know all the fine details of his case. I have seen what his advertised rates and terms are and would never ever sign up to that deal.

While I agree. You have to watch the netflix deal on how he did it.  He had every thing legally required in his documents. But it was on a cluttered page and the phrases were one line at a time scattered through the page where it hardly made sense. It was clearly deceptive. Also the way he had the payments set up while slimy was brilliant.. The people didn't know they were in trouble until they thought they were on their last payment.. Only to find out they hadn't paid any towards the principle yet :(


East Street Auto Parts
Jim@Eaststreet.com
800 700 9080

NASA Champs Winner - NASA Champs Winner Hoosier Super Tour points Champion - Hoosier Super Tour points Champion ARRC Champion - Won the ARRC Race in a Spec Miata Series Champ - Won a points based series in a Spec Miata BFG Supertour Winner - Majors Winner - Circuit of the Americas Winner - We have a Winnah! - Won their 1st race... Congratulations! June Sprints winner  - June Sprints winner June Sprints winner  - June Sprints winner June Sprints winner  - June Sprints winner June Sprints winner  - June Sprints winner SCCA National Champion - Won SCCA Runoffs at Road America SCCA National Champion - Won SCCA Runoffs at Road America

#9
Steve Scheifler

Steve Scheifler

    Veteran Member

  • Members
  • PipPipPipPipPip
  • 2,816 posts
I’ve never seen stats on what percentage of people made those “renewal” payments before realizing that nothing was going against the principle, but it must have been a lot. Everyone in the company knew that was the problem for years so it’s not as if a few were screwed then the issue corrected.
Instigator - Made a topic or post that inspired other Broken record - You are starting to sound like a broken record.

#10
OrangeCrush86

OrangeCrush86

    Member

  • Members
  • PipPipPip
  • 424 posts
  • Location:BECKER
  • Region:Minnesota

What's the Netflix show called?


____________________________

http://jenkinsracing.com


#11
Danny Steyn

Danny Steyn

    Zulu rain warrior

  • SMembers
  • PipPipPipPipPip
  • 2,439 posts
  • Location:Fort Lauderdale
  • Region:FL
  • Car Year:1999
  • Car Number:39

What's the Netflix show called?

 

Dirty Money - episode 2 is Tucker - the rest of the shows are equally "distasteful"


Danny
Danny Steyn Racing | DSR YouTube Channel
Danny Steyn Photography | Adept Studios | Ocean MachineryOPM AutosportsRossini Racing Engines | G-Loc Brakes | 

 

2 x SCCA Runoffs Champ | 1 x NASA National Champ | 6 x June Sprints Champ | 10 x ARRC Champ

1 x SCCA Super Sweep | 2 x Triple Crown | 4 x Hoosier Super Tour Points Champ | 6 x Majors Points Champ | 5 x SEDiv Driver of the Year

 

 

June Sprints winner  - June Sprints winner Series Champ - Won a points based series in a Spec Miata ARRC Champion - Won the ARRC Race in a Spec Miata We have a Winnah! - Won their 1st race... Congratulations! Bona fide - A bonafide Spec Miata driver NASA Champs Winner - NASA Champs Winner June Sprints winner  - June Sprints winner ARRC Champion - Won the ARRC Race in a Spec Miata ARRC Champion - Won the ARRC Race in a Spec Miata Majors Winner - BFG Supertour Winner -

#12
Sphinx

Sphinx

    Veteran Member

  • Members
  • PipPipPipPipPip
  • 651 posts
  • Location:Atlanta
  • Region:ATL

There's a special place in hell for those who prey on the poor to keep them in the cycle of poverty and economic ruin.  Sorry, but I'm not agnostic about this - the effects of this carry on for generations and hurt those who don't have a pot to pi$$ in.  Legal or not, these peddlers have no conscience and their customers don't have the sophistication or education to not be preyed upon.  The rest of us subsidize these profits by these peddlers through entitlements that these poor debtor folks rely on.  One way or another, society pays for the scumbaggery of folks like Tucker.


  • Cnj, CruzanTom, mellen and 2 others like this




0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users