Found a receint La Tmes article on sovereign immunity issue

That is a good article and it mentions Ameriloan and their illegal tactics.

I like the way the director of financial services for the Consumer Federation of America described payday loans;
Quote:

Ms. Fox was also the one that Guitierrez from IL "chastized" about her unreal desires and expectations during the hearing for HR1214. She may be a very smart lady, but her thoughts do not convert to the real world that we live in.

As for the ruling in WV, the IPDL's mentioned just fell in line with all other PDL's and thier agreement with the state. I believe that the wording states that any loan with an APR over "X" is uncollectable by any company in any state. They did not ban PDL's, but instead the ability to collect.

BTW, you will notice that any regulating of IPDL's has been bogged down in court due to the Soverign Immunity. If this was a "slam dunk", they would have already moved on with filing further in the courts.

Exactly PDL... it's not a slam dunk case. Though..I didn't see where if they were getting any money from the state in re: aid. If they do, then screw Soverign Immunity. They need to follow state law.

I filed BBB complaint and they responded with this BS (Ameriloan) 05/27/2009 WEB BBB RECEIVE BUSINESS RESPONSE : To Whom It May Concern:
We recognize this complaint as a RESPONSE to a template of a form letter circulating the Internet. This form letter is full of mis-leading and inaccurate information. Unless this customer has a specific complaint regarding the handling of their account, we do not believe a response is warranted. Thank you for your consideration in this matter.