Chuyên mục: Paydayloantoday

Minnesota Reaches $4.5 Million Payment with Unlicensed Payday Financial Institution

Officials state pay day loan company CashCall attempted to evade regulations by improperly invoking tribal immunity that is sovereign.

By William Bornhoft , Patch Staff

The Minnesota Commerce Department and Attorney General has already reached a sweeping $4.5 million settlement with a California-based internet payday lending business that victimized 1000s of Minnesotans with unlawful, high-interest loans.

The settlement has been CashCall Inc., its companies that are affiliated owner J. Paul Reddam.

“we have been focused on protecting customers and cracking down on unlawful, misleading financing techniques that victimize susceptible Minnesotans.”

(more…)