You’ve seen the cash advance companies in strip malls. Now, individuals in hopeless need of money are switching to online loan providers, together with Minnesota lawyer general claims some clients are increasingly being illegally shaken straight down bad credit arkansas.
Five online loan providers would be the goals of split legal actions filed Tuesday in Minnesota, citing unlawful financing techniques. The investigation that spurred the legal actions, brought by Minnesota Attorney General Lori Swanson, identified “unlawfully high rates of interest as high as 782 %, ” unauthorized withdrawals from customers’ bank accounts and a phony collection scam. Read more “Minnesota attorney general sues 5 Web payday loan providers”