Payday Loan Lowdown

California Department of Corporations (DOC) recently ordered four online Payday Loan companies to stop making loans to California residents. The reason cited was that the stores have not been licensed in the state. Rtoonline.com reports:

Payday loan companies are required to be licensed by DOC under the California Deferred Deposit Transaction Law. To date, DOC has issued enforcement actions to 40 payday lenders operating in violation of state law

Read more:California Orders Online Payday Loan Stores to Stop Lending in State

If you enjoyed this article, please bookmark it at del.icio.us »

This entry was posted on Saturday, September 9th, 2006 at 1:03 pm and is filed under News. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.