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

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 in other unlawful techniques, state officials stated Tuesday.

California Check Cashing Stores additionally consented to spend $105,000 in charges as well as other expenses in a permission purchase utilizing the state’s Department of company Oversight, which includes been cracking straight down on payday along with other high-cost customer loans that critics allege are predatory. Continue reading