Payday loans san angelo tx - Renton

Federal regulators have ordered Seattle-based payday lender Moneytree to pay more than $500,000 in fines and refunds over allegations of deceptive advertising and collection practices.,The consumer-watchdog agency found Moneytree had violated federal law with misleading online ads about how much its branches would charge customers to cash income tax-refund checks.,Between February and March of 2015, some of Moneytree’s ads said the company would cash those checks for a fee of “1.99.” Other ads correctly listed the fees as “1.99%” of each tax refund.,Moneytree also was hit for sending debt-collection letters in 2014 and 2015 that threatened to repossess the cars and trucks of 490 customers who were delinquent on loans.,In what was described as a paperwork error, Moneytree also was found to have withdrawn money from the bank accounts of dozens of Washington loan customers without first obtaining proper written authorization. The money was refunded.,The federal action was hailed by local anti-poverty and consumer advocates, who have long criticized the payday loan business as predatory.,Like other payday lenders, Moneytree offers short-term loans marketed to lower-income families typically unable to secure other types of credit.,In 2009, Washington lawmakers cracked down on the industry, citing horror stories of families trapped in spirals of debt with multiple loans with high interest rates.,Since the state’s tough restrictions on the number and size of loans were passed, the payday-loan industry here has shriveled.payday loans no telecheck direct lenders

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