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CFPB: ACE Money Express Need To Pay $10M For Pushing Borrowers Into Cash Advance Pattern Of Debt

The customer Financial Protection Bureau announced Thursday they could not afford that it was seeking an enforcement action against ACE Cash Express, one of the largest payday lenders in the United States, for allegedly engaging in illegal debt collection practices in order to push consumers into taking out additional loans.

Texas-based ACE will give you $5 million in refunds to consumers along with having to pay a $5 million penalty when it comes to violations that are alleged.

ACE, which currently runs on line and through 1,500 retail storefronts in 36 states, provides pay day loans, check-cashing services, name loans, installment loans as well as other products that are financial. Fortsätt läsa →