California strikes again against pdls

Great - They need to get rid of them all!

This is GREAT news for us in the Golden State! But does this mean that ALL of the PDL co's have to leave, including the storefront ones? And I wonder about enforcement actions? About time that Arnie did something right, for a change!
Thanks for sharing!

It's good news for the people residing in California. Those four loan companies are often discussed here. California attorney general is taking actions against the loan companies not licensed in the state. After being barred from doing business in California, they will continue with their illegal activities in other states. The government of each US state has to adopt such strict laws and throw payday loan companies out of business. That's the only remedy

You are absolutely right. It's kind of like drug dealers. Once you kick them out of your neighborhood, they move on down the road. This is why it's so important for EVERYONE to email their elected officials and throw enough of a stink to get them all out!
The more of a stink is raised, the quicker they will be banned.

I have often wondered if the money that these pdls fraudulently take is funding some terrorist group, their drug habits, etc. Guess I let my mind wonder too much.

Good for California!

Internet Cash Advance Marketing Inc, is: They are Rio, ameriloan, United Cash Loans, National Fast Cash.

Is this the RIO resources that keeps ripping everyone off?

Yep thats the one.

Tammy, I agree, I have found myself wondering as well what are these internet pdls funding. You have to kind of wonder because they are difficult to trace and locate and have many different names. Have you ever wondered what the IRS might find if they confiscated their records (that is if there are any records besides the millions of debits they've taken from customers, which the proof lies in our bank statements.). Are these companies paying their fair share of taxes if any?

They probably aren't paying anything in the way of taxes. If they are, they are probably cheating on their taxes and they will eventually get caught. We all know what the IRS will do then.

Do you think they might need to know? I have thought about it.

Based on this new order, should any of us in California tell these pdl's that we will only pay our principal back plus what is owed by state law, or just our principal because they are not lending legally here and the State is actually recognizing these companies as illegally doing business.

I would pay back what you borrowed and that would be it. I would also let them know that they are illegal in the state.

Well paying back what you borrowed is just fine with me, it's just all the excessive fees that they tend to charge that are the killer, without those excessive fees, I'm sure that alot of us can and will be able to pay off alot quicker.

Tammy,that's great-thanks for the info. Maybe,just maybe,others will take note and follow suit. I've always said,the more people that make alot of noise about something,gets attention ...Karen