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Minnesota Commerce Department Cracks Down on Unlicensed Web Payday Lenders

Minnesota Commerce Department Cracks Down on Unlicensed Web Payday Lenders

During the simply click of the mouse, unlicensed payday lenders positioned in other states are cashing in on Minnesota customers. Some payday lenders are taking their business online, charging customers big fees for small cash loans as Minnesotans struggle financially in tough economic circumstances.

Acknowledging this growing issue, Commerce Commissioner Mike Rothman took action this week on the behalf of Minnesota customers, breaking straight down on four payday loan providers for presumably supplying customer tiny loan solutions on the internet without having a license that is proper.

Complaints gotten by the Commerce Department from three Minnesota customers led to formal costs against: Omega Investments, Ltd., LLC in Salt Lake City, Utah; Sanguine, Inc. of Wilmington, Delaware; Ameriloan of Miami, Oklahoma; and Pack Management Group, Inc. Mehr erfahren »