500FastCash Closed
Modoc Tribe of Oklahoma (Red Cedar Services) — Scott Tucker operation · 2003–2016
500FastCash was part of Scott Tucker's pseudo-tribal empire — the biggest criminal case in payday-lending history. He got 16 years and 8 months; borrowers got a share of $505 million in FTC refunds.
Do I still owe 500FastCash?
- Collection status
- Stopped January 1, 2016
- Debt relief
- Red Cedar paid $2.2M and waived $68M in uncollected fees
- Cash fund
- Part of $505M FTC refund checks to 1.18M borrowers (2018)
- Closed
- 2016
FTC judgment; Scott Tucker convicted of RICO in 2017 (16 years 8 months prison).
500FastCash at a glance
Closed- Owning tribe
- Modoc Tribe of Oklahoma (Red Cedar Services) — Scott Tucker operation
- Lending since
- 2003
- Loan amounts
- $200–$500
- APR range
- 400–700%
- Product
- payday
- Website
- 500fastcash.com
What a 500FastCash loan cost
500FastCash lent $200 to $500 as short-term payday loans at 400–700% APR from around 2003 until 2016.
Its cost was brutal by design, but the real story is who was collecting it: not the Modoc Tribe whose name appeared on the paperwork, but Scott Tucker — a non-tribal operator who ran the AMG Services empire and was convicted of racketeering.
The Scott Tucker empire
500FastCash was operated through Red Cedar Services, fronted by the Modoc Tribe of Oklahoma, as part of Scott Tucker's AMG Services group — which also ran Ameriloan, OneClickCash, UnitedCashLoans and USFastCash through the Miami Tribe and Santee Sioux Nation. The tribes lent their names; Tucker ran the business.
It ended in the largest criminal case the industry has seen. Tucker was convicted of RICO and Truth in Lending violations in 2017 and sentenced to 16 years and 8 months in prison.
Red Cedar Services paid $2.2 million and waived $68 million in uncollected fees, and the FTC mailed $505 million in refunds to 1.18 million borrowers in 2018.
Frequently asked questions
What happened to 500FastCash?
It was part of Scott Tucker’s AMG Services empire, which the FTC dismantled. Tucker was convicted of racketeering in 2017 and sentenced to 16 years and 8 months; the FTC mailed $505 million in refunds to 1.18 million borrowers in 2018.
Was 500FastCash a real tribal lender?
It was fronted by the Modoc Tribe of Oklahoma through Red Cedar Services, but it was run by Scott Tucker, a non-tribal operator later convicted of RICO — the archetypal "rent-a-tribe" scheme.
This brand is one of many that stopped lending — and in several cases the balances were legally wiped out in a settlement. See the full picture: which tribal lenders shut down, and were the debts cancelled?