SACRAMENTO – The Ca Department of company Oversight (DBO) today filed an action (PDF) to void loans and revoke the licenses of payday loans ess Fast Money Loan, a prominent Southern California automobile name loan provider, for numerous and consistent violations of the lending that is state’s.
The longer lender that is beach-based charged customers more interest and costs than allowed by legislation, neglected to consider borrowers’ capacity to repay as needed, freely utilized its illegal not enough underwriting as an advertising device, involved with false and deceptive advertising, operated away from unlicensed locations, and did not keep needed documents that could report its unlawful task, the DBO’s accusation alleges.