$19M in fines/refunds for payday firm

$19M in fines/refunds for payday firm

Richard Cordray, manager associated with the customer Financial Protection Bureau, testifies at a Nov. 2013 Senate banking committee hearing. (Picture: Profit McNamee, Getty Photos The United States)

Tale Features

  • About 14,000 Ohio customers to obtain refunds
  • A lot more than 300 active-duty service users additionally get repayments
  • Payday loan provider to pay for $5 million fine for failing continually to protect documents

Money America Global, a major owner of U.S. pawn shops and pay day loan stores, has agreed pay $19 million in consumer refunds and fines for robo-signing papers found in commercial collection agency, issuing improperly high loans to armed forces members and destroying documents wanted by a regulator that is federal. Continue reading “$19M in fines/refunds for payday firm”