CFPB Moves Against Cash Advance Industry, Orders ACE Cash Express To Pay For $10 Million

martie 11, 2021 in paydayloansmissouri.org Payday Loans Near Me

CFPB Moves Against Cash Advance Industry, Orders ACE Cash Express To Pay For $10 Million An additional indication that the pay day loan industry is increasingly under siege, the CFPB reached funds Thursday with among the country’s biggest payday lenders for $10 million over its illegal business collection agencies tactics. The financial institution, ACE money Express, “used false threats, intimidation, and harassing phone calls to bully payday borrowers into a period of financial obligation,” said CFPB Director Richard Cordray.