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CFPB Takes Action Against Check Cashing and Payday home loan company for Tricking and Trapping people

CFPB Takes Action Against Check Cashing and Payday home loan company for Tricking and Trapping people

Bureau Alleges All American Check Cashing Hid Charges and Pressured Borrowers into Multiple Loans

WASHINGTON cash advance and payday loan South Carolina, D.C. — The Consumer Financial Protection Bureau (CFPB) today took action against All Check that is american Cashing Inc., that offers check cashing and pay day loans, as well as its owner, for presumably tricking and trapping customers. In a grievance filed in federal court, the CFPB alleged that All US tried to keep consumers from learning simply how much they might be charged to cash a check and used misleading tactics to end customers from backing away from deals. The CFPB’s lawsuit seeks to get rid of All American’s illegal techniques, obtain redress for customers, and impose charges.

”Today we have been using action against All American Check Cashing for tricking and trapping consumers,” said CFPB Director Richard Cordray. “Consumers deserve accurate and truthful information from the finance institutions they rely on, but All United states instead devised elaborate schemes to cover up expenses and make the most of susceptible borrowers.”

All Check that is american Cashing Inc. is situated in Madison, skip. and provides check cashing services and loans that are payday about 50 stores in Mississippi, Alabama, and Louisiana. The CFPB’s issue also names Mid-State Finance, Inc. (conducting business as Thrifty Check Advance), that offers check cashing and payday advances in a minumum of one store in Pearl, skip.