In the simply simply simply click of a mouse, unlicensed lenders that are payday various other states are cashing in on Minnesota customers. Some payday lenders are taking their business online, charging customers big fees for small cash loans as Minnesotans struggle financially in tough economic circumstances.
Acknowledging this growing issue, Commerce Commissioner Mike Rothman took action this week on the behalf of Minnesota customers, breaking straight straight straight down on four payday loan providers for presumably supplying customer tiny loan solutions on the internet without a appropriate permit.
Complaints gotten by the Commerce Department from three Minnesota customers led to formal fees against: Omega Investments, Ltd., LLC in Salt Lake City, Utah; Sanguine, Inc. of Wilmington, Delaware; Ameriloan of Miami, Oklahoma; and Pack Management Group, Inc. of Carson City, Nevada. All four organizations aren’t certified by the Minnesota Department of Commerce, but have allegedly supplied payday advances to Minnesota customers on the internet.
“We are attempting to protect Minnesota customers from unlicensed lending that is payday that benefit from them,” said Rothman. Continue reading “Minnesota Commerce Department Cracks Down on Unlicensed Online Payday Lenders”