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• Government Actions:

  Government Action: BBB reports on known government actions involving business’ marketplace conduct:

  Colorado Attorney General v Americor Funding Inc, and Banir Ganatra
  

  The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.

  On December 13, 2022, Americor Funding Inc and Banir Ganatra entered into a Stipulation and Final Agency Order with the Colorado Attorney General's Office. The Order settles allegations that the business lent money or provided credit directly or indirectly to consumers to whom Americor furnished debt management services, compensated employees directly or indirectly based on the amount of consumers enrolled into an agreement which was contradictory to the debt management services act, and entered into debt management service agreements with consumers that were not dated or signed by the business or consumer. Under terms of the Order, the business agreed to comply with the Uniform Consumer Credit Code and the Debt Management Services Act and maintain registration or renew registration in order to further comply and operate in Colorado, and to not enroll any new consumers in Colorado 2 years from the date of this order. Under the terms of the Order, the business agreed to pay restitution in the amount of $200,000. The Order was for settlement purposes only and should not be considered as an admission of guilt or finding of violation of the law.

  This action is final.

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