Archive for the ‘Payday Loan Consolidation Massachusetts’ Category

California payday lender refunds $800,000 to stay allegations that are predatory lending

A California payday lender is refunding about $800,000 to customers to be in allegations so it steered borrowers into high-interest loans and involved with other practices that are illegal state officials stated Tuesday.

California Check Cashing Stores additionally consented to pay $105,000 in charges along with other expenses in a permission purchase because of the state’s Department of company Oversight, that has been cracking straight down on payday along with other high-cost customer loans that experts allege are predatory. The business failed to acknowledge shame within the permission order.

The division, which oversees service that is financial and items, has had similar actions against four other businesses since late 2017 as an element of an attempt to enforce the state’s restrictions on interest rates for payday as well as other small-dollar loans. Read more »