info for DC if anyone interested.
Date: Thu, 12/03/2009 - 15:46
[FONT=Times New Roman][COLOR=Black]The DC Department of Insurance, Securities and Banking (“DISBâ€) is the agency responsible for reviewing consumer complaints and inquiries, regarding DC chartered banks and other financial institutions that operate in the District of Columbia. I am in receipt of your inquiry regarding payday lenders in the District of Columbia. [/COLOR][/FONT]
[FONT=Times New Roman][COLOR=Black]In January of 2008 the District of Columbia passed legislation to eliminate the problems of excessive rates being charged to District residents by payday lenders. The “Payday Loan Consumer Protection Act of 2007†requires anyone who makes a loan to a District of Columbia resident on-line or in person to hold a District of Columbia Money Lender’s license. Additionally, under the District of Columbia Money Lender’s law, all loans to District residents must comply with the District of Columbia Usury Law, or they are in violation of the District of Columbia Consumer Protection Law as well. [/COLOR][/FONT]
[FONT=Times New Roman][COLOR=Black]If you wish to file a complaint against a payday lender or any other financial institution that is operating in the District of Columbia, please complete the attached Consumer Complaint form and fax to my attention. Upon receipt, DISB will look into the matter for you. [/COLOR][/FONT]
[FONT=Times New Roman][COLOR=Black]In January of 2008 the District of Columbia passed legislation to eliminate the problems of excessive rates being charged to District residents by payday lenders. The “Payday Loan Consumer Protection Act of 2007†requires anyone who makes a loan to a District of Columbia resident on-line or in person to hold a District of Columbia Money Lender’s license. Additionally, under the District of Columbia Money Lender’s law, all loans to District residents must comply with the District of Columbia Usury Law, or they are in violation of the District of Columbia Consumer Protection Law as well. [/COLOR][/FONT]
[FONT=Times New Roman][COLOR=Black]If you wish to file a complaint against a payday lender or any other financial institution that is operating in the District of Columbia, please complete the attached Consumer Complaint form and fax to my attention. Upon receipt, DISB will look into the matter for you. [/COLOR][/FONT]
