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CFPB Techniques Against Payday Loan Industry, Orders ACE Cash Express To Cover $10 Million

CFPB Techniques Against Payday Loan Industry, Orders ACE Cash Express To Cover $10 Million

The CFPB reached a settlement Thursday with one of the nation’s largest payday lenders for $10 million over its illegal debt collection tactics in another sign that the payday loan industry is increasingly under siege.

The financial institution, ACE money Express, „used false threats, intimidation, and harassing telephone telephone telephone calls to bully payday borrowers right into a period of financial obligation,” said CFPB Director Richard Cordray. Continue reading ‚CFPB Techniques Against Payday Loan Industry, Orders ACE Cash Express To Cover $10 Million‘

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