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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.
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