Two men who said they ran a payday loan brokerage in Tampa, Fla., have agreed to settle Federal Trade Commission charges that they stole hundreds of thousands of dollars from consumers' bank accounts.

The FTC had sought $6.2 million from the defendants, which the agency said in a release Friday was "equal to the defendants' ill-gotten gains," but their ability to pay was determined to be limited.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.