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

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

WASHINGTON – A California payday lender is refunding about $800,000 to customers to settle allegations 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 as well as other expenses in a permission purchase with all the state’s Department of company Oversight, that has been cracking down on payday along with other high-cost customer loans that experts allege are predatory. The organization failed to acknowledge guilt within the permission purchase.

The eight North Bay places for Ca Check Cashing Stores and money 1 have been in Santa Rosa, Rohnert Park, Vallejo, Fairfield and Vacaville. […]