Payment processor that attempted $200 million of bogus charges fined $3.6 million

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A payment processor that illegally debited more than $200 million in charges from consumers' bank accounts in a massive nationwide scam has been fined $3.6 million, says the Federal Trade Commission.

According to a December 2007 complaint filed by the FTC and seven states, Your Money Access, LLC and its subsidiary, YMA Company, LLC, processed unauthorized debits on behalf of deceptive telemarketers and Internet-based schemes in violation of the FTC's Telemarketing Sales Rule and state consumer protection laws. The states joining the FTC's complaint were Illinois, Iowa, Nevada, North Carolina, North Dakota, Ohio, and Vermont.

Defendants included Your Money Access, LLC d/b/a Netchex Corp., Universal Payment Solutions, Check Recovery Systems, Nterglobal Payment Solutions, Subscription Services, Ltd.; YMA Company, LLC, Derrelle Janey, and Tarzenea Dixon.