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Massachusetts orders PDL's to cease activity

Date: Sun, 08/06/2006 - 16:57

Submitted by polly
on Sun, 08/06/2006 - 16:57

Posts: 1709 Credits: [Donate]

Total Replies: 18



FOR IMMEDIATE RELEASE:
May 26, 2006 CONTACT:
Chris Goetcheus
(617) 973-8735



STATE ORDERS MORE PAYDAY LENDERS TO CEASE ACTIVITY IN MASSACHUSETTS
Unlicensed lenders typically charge illegal fees and interest rates

The Office of Consumer Affairs' Division of Banks this week issued 48 cease activity orders against out-of-state payday lenders who are marketing illegal loans to Massachusetts consumers via the Boston Craigslist website and most recently in the Boston Herald. Commissioner of Banks Steven L. Antonakes has also asked the website and newspaper to cease accepting advertising from these companies. Massachusetts Consumer Affairs Director Janice S. Tatarka warned consumers of the multiple dangers these loans pose.


http://www.mass.gov/?pageID=pressreleases&agId=Eoca&prModName=ocapressrelease&prFile=06_05_30_lenders.xml


Polly this is great if only all the other states would do the same. Quick payday also went down in Iowa. Going to have to pay back money to Iowa residents. Hope how soon they go down in WV. Kyside38


lrhall41

Submitted by KYSIDE38 on Sun, 08/06/2006 - 17:01

( Posts: 2477 | Credits: )


Sue,

Maybe you should contact the AG's office to find out further details? You may be entitled to a refund which would be great for you :) Let me know if you need any help. Polly, thanks for posting this. It seems that these places are finally getting caught in their own tracks. Please let me know if I can be of any assistance to you.


lrhall41

Submitted by Cow & Chicken on Mon, 08/07/2006 - 16:11

( Posts: 3571 | Credits: )


Sue it was quik payday. They have signed cease and desist letter. You need to contact AG immediately so they will have your name on list. They usually send one big check and then cut seperate ones however I do think quik mails them to each individual. You will get back all interest paid. Sorry it took me so long to answer. KYSIDE38


lrhall41

Submitted by KYSIDE38 on Mon, 08/07/2006 - 18:31

( Posts: 2477 | Credits: )