Archive for the ‘Advance Installment Loans Online Minnesota’ Category

For Pushing Borrowers Into Pay Day Loan Pattern Of Financial Obligation

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CFPB: ACE Money Express Need To Pay $10M For Pushing Borrowers Into Cash Advance Pattern Of Financial Obligation

The buyer Financial Protection Bureau announced Thursday they could not afford that it was seeking an enforcement action against ACE Cash Express, one of the largest payday lenders in the United States, for allegedly engaging in illegal debt collection practices in order to push consumers into taking out additional loans.

Texas-based ACE will give you $5 million in refunds to customers in addition to spending a $5 million penalty when it comes to so-called violations.

ACE, which currently runs on the internet and through 1,500 retail storefronts in 36 states, provides pay day loans, check-cashing services, name loans, installment loans as well as other lending options. Read more »