Minnesota Reaches $4.5 Million Payment with Unlicensed Payday Financial Institution

Minnesota Reaches $4.5 Million Payment with Unlicensed Payday Financial Institution

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 numerous of Minnesotans with unlawful, high-interest loans.

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“Our company is invested in protecting customers and breaking down on unlawful, misleading financing techniques that victimize vulnerable Minnesotans.”

But, the real tribe had no affiliation utilizing the company.

  • Spend a $4.5 million settlement that’ll be utilized for restitution to Minnesota customers whom paid interest and charges on Western Sky loans more than exactly exactly what state legislation allows.
  • Stop gathering re re payments on all loans granted by Western Sky, and prevent the sale or transfer of Western Sky loans to virtually any parties that are third. Continue reading “Minnesota Reaches $4.5 Million Payment with Unlicensed Payday Financial Institution”