Olympia, WA – In their state’s biggest payday lending enforcement action, the Department of finance institutions (DFI) filed fees against payday loan providers, Advance Til Payday and Zippy Cash. Among the list of many allegations of misconduct, the payday lenders made over 400 loans more than their state’s $700 maximum loan limitation. DFI promises to revoke both ongoing businessesвЂ™ licenses, ban the people from conducting business in Washington State, enforce fines, online payday loans direct lenders Iowa order restitution, and fee for the expense of the investigations. The firms may request a hearing to guard the costs.
“we shall not tolerate payday loan providers harming customers by overstepping the legal limits set because of the legislature,” stated Deb Bortner, Acting Director of DFI’s Division of customer Services. “DFI will carry on working faithfully to investigate consumer complaints and control violators of Washington’s payday financing guidelines.”
The department uncovered evidence that Advance Til Payday and Zippy Cash have common ownership though the two companies represented themselves as two separately owned entities. (more…)Learn More