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 Posted: Wed Aug 29, 2007 1:11 pm Subject: Nebraska DFI Response to my complaint against One Click Cash
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Many of you do not know me but I have been waging a war against One Click Cash since I asked them to reduce their fees to reflect my state usury laws and they responded with a threat of Fraud. One of my complaints after finding out that One Click Cash is not licensed in the State of Nebraksa. This is where they are physically located in and claim to be using the usury laws of this State. This morning, I spoke with Mr. Cameron over at the Nebraska DFI concerning my complaint against One Click Cash and he advised me that they have issued a Cease and Desist against One Click Cash and that he will be contacting individuals who have filed complaints against this company concerning repayment issues, etc. He stated that after reviewing my complaint and all the other complaints they issued the Cease and Desist but the the Company has the ability to appeal this decision. However, if they do not appeal and try to continue to lend out of Nebraska, the DFI will force the company to comply. I think this is good news. So keep filing your complaints.
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ctraslavina
Joined: 17 Jan 2007
Posts: 52
Debtcc Points: 1941
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Posted: Wed Aug 29, 2007 1:15 pm Subject:
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That is wonderful news  . They mean what they say:)
I sincerely don't think you will hear from them again or that the Department of Finance will either. What address did you have for them as they are some other people on here that have had problems with them. Please post the address.
ladybug
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ladybug
Joined: 29 May 2007
Posts: 2712
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Posted: Wed Aug 29, 2007 1:23 pm Subject:
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I wonder when they issued this order . . . . It is not showing up on their website yet . . .
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goudah2424
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Posted: Wed Aug 29, 2007 1:38 pm Subject:
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Goudah, I spoke with Mr. Cameron from the Nebraska DFI this morning and he advised me that they had just issued a cease and desist to One Click Cash. I can call him back and find out when the cease and desist was actually issued and post that here. I did not see it either when I searched. However, I don't believe they would have misstated their position, especially since I was inquiring about the complaint I filed with their division against this company. He was quite clear that due to the cease and desist order, he would be contacting all the individuals who had filed complaints against this company to advise of the status and issues of payments made, etc.
ladybug: The address for One Click Cash is
53946 Highway 12 # 3 Niobrara, NE 68760
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ctraslavina
Joined: 17 Jan 2007
Posts: 52
Debtcc Points: 1941
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Posted: Wed Aug 29, 2007 2:00 pm Subject:
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Oh, I wasn't thinking they didn't do it . . . . More like my impatience at wanting to read it!
I noticed that their last posting was 8/19, so maybe it takes them a week or two to get it uploaded to their website.
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goudah2424
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Posted: Wed Aug 29, 2007 2:03 pm Subject:
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Me too. I called Mr. Cameron and left a vm for him to call me back and provide me with the date the cease and desist notice was sent to One Click Cash. As soon as I hear from him I will post it right away. I am very anxious to see when this happens and is noted on their website.
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ctraslavina
Joined: 17 Jan 2007
Posts: 52
Debtcc Points: 1941
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Posted: Wed Aug 29, 2007 2:14 pm Subject:
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Okay guys, this was just posted on the DFI of Nebraska Website:
| Quote: | NDBF Issues Cease & Desist Order to Nebraska Internet Payday Lender
The Nebraska Department of Banking and Finance (NDBF) has issued an Order to Cease and Desist against SFS, Inc., doing business as One Click Cash, located at 52946 Highway 12, Suite 3, Niobrara, Nebraska, from operating as an Internet delayed deposit services business. According to Department records, One Click Cash does not have a license to operate a delayed deposit services business in the state. Delayed deposit services businesses are commonly referred to payday lenders. |
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ctraslavina
Joined: 17 Jan 2007
Posts: 52
Debtcc Points: 1941
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Posted: Wed Aug 29, 2007 2:15 pm Subject:
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Yay!!!
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goudah2424
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Posted: Wed Aug 29, 2007 2:18 pm Subject:
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| Quote: | RELEASE DATE: August 29, 2007 CONTACT:
Patricia Saldana, Public Information Officer
FOR IMMEDIATE RELEASE PHONE: 402-471-3222
Cease & Desist Order Issued to Nebraska Internet Payday Lender
Lincoln, Neb., Aug 29, 2007-- The Nebraska Department of Banking and Finance (NDBF) has issued
an Order to Cease and Desist against SFS, Inc., doing business as One Click Cash, located at 52946
Highway 12, Suite 3, Niobrara, Nebraska, from operating as an Internet delayed deposit services
business. According to Department records, One Click Cash does not have a license to operate a delayed
deposit services business in the state. Delayed deposit services businesses are commonly referred to
payday lenders.
The Department issued the order after investigating 18 complaints made against the company,
including two complaints from Nebraska residents. A number of the complaints were forwarded to the
Department by financial regulators in other states.
All of the complainants allege that the company charges fees in excess of that permitted by law for
delayed deposit transactions and automatically renews transactions on the due date. Renewals continue
for several months resulting in customers paying the company more than double the amount of the original
advance. Customers also allege that One Click Cash electronically deposits the advances into their bank
accounts and repeatedly debits their accounts for fees associated with the transactions. Customers
complained that notices to revoke the automatic withdrawals they sent to One Click Cash were routinely
ignored by the company and that the company continued to debit their bank accounts. Even after the bank
accounts had been closed, customers complained that the company continued to attempt to withdraw
funds from the accounts and attempted to charge fees for failed attempts. Such practices are illegal under
Nebraska law. Further information about the order can found by searching the NDBF Web site at
ndbf.org.
NDBF encourages Nebraskans to report unlicensed Internet payday lenders. More information
about the laws governing payday lenders can be found on the Department’s Web site. If you have
questions about the order or any investing or banking matter, call the NDBF Consumer Hotline toll free at
877-471-3445, or visit the Web site.
STATE OF NEBRASKA
Dave Heineman
Governor
DEPARTMENT OF BANKING AND FINANCE
John Munn
Director
Commerce Court, Suite 400
1230 ‘O’ Street
Lincoln, Nebraska 68508-1402 |
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goudah2424
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Posted: Wed Aug 29, 2007 2:20 pm Subject:
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The PDF of the whole Cease and Desist order can be accessed here
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goudah2424
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Posted: Wed Aug 29, 2007 2:21 pm Subject:
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Wow! Reading that NE acted on only 18 complaints! That is awesome!
This goes to show the importance of filing complaints no matter what the outcome is. An illegally operating company needs to be reported.
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goudah2424
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Posted: Wed Aug 29, 2007 2:27 pm Subject:
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I so agree with Goudah. I guess people are realizing that enough is enough with the collection and harrassment tactics of these types of companies. So, in actuality, this helps all of those individuals who have been dealing with One Click Cash and their illegal collection tactics. I believe that is correct. I defer to Goudah if I am incorrect.
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ctraslavina
Joined: 17 Jan 2007
Posts: 52
Debtcc Points: 1941
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Posted: Wed Aug 29, 2007 2:34 pm Subject:
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I'm not sure how much it would help people in other states, as the cease and desist order usually would only apply to those in NE . . . . But the wording says:
| Quote: | The Nebraska Department of Banking and Finance (NDBF) has issued
an Order to Cease and Desist against SFS, Inc., doing business as One Click Cash, located at 52946
Highway 12, Suite 3, Niobrara, Nebraska, from operating as an Internet delayed deposit services |
So maybe that could be taken to mean that they can no longer do business from NE.
Anyone in another state with a loan from them should forward a copy of this order with their complaint. I beleive they have also been ordered to cease and desist giving loans in other states too.
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goudah2424
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Posted: Wed Aug 29, 2007 2:46 pm Subject:
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Goudah, I am not sure how it affects those from other states, but when I spoke with Mr. Cameron this morning he advised me that he would be contacting me in the coming weeks to discuss how much I paid towards my first loan (paid it off) and the second loan and then determine how much I am owed. I will find out more information when I speak with him tomorrow a.m.
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ctraslavina
Joined: 17 Jan 2007
Posts: 52
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Posted: Wed Aug 29, 2007 2:48 pm Subject:
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Great - You aren't a NE resident, right?
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goudah2424
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Posted: Wed Aug 29, 2007 2:53 pm Subject:
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No I am not. I am from Arizona but when I spoke with him he was aware of my complaint and advised that he would be contacting me about my loans (one previous), one current with this company. It seemed as if the Cease and Desist Order did affect my loan with One Click Cash. It could be that I filed a complaint. Who knows but I have forwarded on to the DFI of Arizona the Cease and Desist Order. Arizona law is pretty different. We don't have strong consumer protection laws and the AG's office usually refers their people to file the complaints in the states that these companies are either licensed in and/or are physically located in. The DFI of Arizona is a much better resource for consumers who deal with payday issues.
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ctraslavina
Joined: 17 Jan 2007
Posts: 52
Debtcc Points: 1941
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