Money Express Made Misleading Representations to Consumers and Improperly Seized Money From Check-Cashing Transactions
The Bureau of Consumer Financial Protection (Bureau) today announced money with money Express, LLC, a lender that is small-dollar in Cookeville, Tenn., that offers high-cost, short-term loans, such as for example payday and title loans, in addition to check-cashing services. Cash Express has and runs around 328 retail outlets that are lending four states: Tennessee, Kentucky, Alabama, and Mississippi.
As described within the permission purchase, the Bureau discovered that money Express violated the buyer Financial Protection Act (CFPA) by deceptively threatening in collection letters it was not Cash Express’s practice to file lawsuits against these consumers that it would take legal action against consumers, even though the debts were past the date for suing on legal claims, and. The Bureau additionally discovered that Cash Express violated the CFPA by misrepresenting it might report credit that is negative to customer reporting agencies for late or missed payments, once the business would not really report these details. Continuar leyendo «Bureau of Customer Financial Protection Settles with Money Express»