Consumer complaint received 2025-06-23 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Installment loan
Issue: Getting the loan — 
Company: Momnt Technologies, Inc.
State: NJ

Complaint narrative:
We are disputing an {$8000.00} loan issued by Momnt on XX/XX/XXXX, to finance a XXXX XXXX program provided by XXXX XXXX XXXX XXXX XXXX an Illinois XXXX clinic. The transaction involved potential violations of the Federal Trade Commission ( FTC ) Holder Rule and the FTC Acts prohibition against deceptive practices, as the loan financed a service that was misrepresented at the point of sale. After we submitted a formal dispute, the lending company refused to conduct a proper review or escalate the case, closing the complaint at the customer service level without addressing the underlying legal issues. 

Background : The program was marketed as an effective treatment for XXXX XXXX. However, the primary device used in the program, the XXXX XXXX, is not FDA-approved for XXXX XXXX. The clinic misrepresented the effectiveness of this device, and its website has since removed references to XXXX  services, which now appear only in a hidden " Legal Disclaimer '' section ( see Legal Disclaimer screenshotat the end of the list under the " Navigation '' header found at the bottom of the page, as well as two " XXXX  Marketing '' screenshots ). This raises serious concerns about fraudulent marketing. The billing for this program was improperly bundled as a single {$6000.00} line item without itemization or XXXX  codes, obscuring what services were actually provided and raising concerns about double billing. An additional {$800.00} Professional Fee was charged without clear explanation ( see XXXX Breakdown email -- located itemized under the {$6000.00} ). 

Under Section 21 of the loan agreement and the FTC Holder Rule, we are asserting our right to dispute the loan on the grounds of material misrepresentation and improper billing by the seller. On XX/XX/XXXX, we formally requested that Momnt cancel the loan, release us from further obligation, and refund any payments made. 

Momnt responded via Ticket ID # XXXX on XX/XX/XXXX. Their response stated that the loan was non-refundable based on a merchant-provided document, but they failed to attach the referenced document. The dispute was handled entirely at the customer service level, and there is no indication that it was escalated to Momnts legal, compliance, or dispute resolution department, as would typically be required under the FTC Holder Rule. The ticket was closed without proper review, and Momnt directed us back to the merchant, despite our legal right to dispute the loan directly with the lender. 

We also filed this complaint with the Illinois Attorney General in XX/XX/XXXX and directly requested formal enforcement review. The AGs office offered mediation, which we explicitly rejected in favor of formal enforcement review given the seriousness of the legal violations involved. On XX/XX/XXXX, the AGs office closed the file and sent us a message stating : Your mediation file will be closed and your information will remain in our database. This is the way we track trends. The AGs office provided no further review and did not pursue enforcement. We believe this matter merits formal federal attention given the nature of the violations. 

We respectfully request the CFPB investigate Momnts role in financing fraudulent XXXX  services and take appropriate regulatory action.

Company response to consumer: Closed with explanation