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

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

WASHINGTON – A California payday loan provider is refunding about $800,000 to customers to stay allegations so it steered borrowers into high-interest loans and involved with other practices that are illegal state officials stated Monday.

California Check Cashing Stores additionally consented to spend $105,000 in charges along with other expenses in a permission purchase using the state’s Department of Business Oversight, which was cracking straight down on payday as well as other high-cost customer loans that experts allege are predatory. The business failed to acknowledge shame into the consent purchase.

The eight North Bay areas for Ca Check Cashing Stores and money 1 come in Santa Rosa, Rohnert Park, Vallejo, Fairfield and Vacaville. Owned by independently held Community Selection Financial Inc. of Ohio, the lending company has 118 areas in Ca. Continue reading California payday lender refunds $800,000 to stay predatory lending allegations