Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

Internet lender owes millions in restitution to MN borrowers


St, Paul, MN (Learfield Data Services) - An internet lender based in California is barred from doing business in Minnesota unless it complies with state lending laws.

Minnesota Attorney General Lori Swanson says the court-approved consent judgment orders CashCall, Incorporated to provide more than $11.7 million in relief to about 6,000 borrowers in Minnesota.

Under the settlement, the company must pay $4.5 million in restitution to customers, cancel more than $5.2 million in outstanding loans and notify third party companies that bought outstanding loan balances of nearly two million to cancel the debt.


Reader Comments(0)


Powered by ROAR Online Publication Software from Lions Light Corporation
© Copyright 2021

Rendered 08/06/2021 09:10