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Calif. payday lender refunds $800K to stay predatory lending allegations

Calif. payday lender refunds $800K to stay predatory lending allegations

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WASHINGTON — A California payday loan provider 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 said Monday.

California Check Cashing Stores additionally consented to spend $105,000 in penalties along with other expenses in a permission purchase utilizing 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 purchase.