Thank you for visiting the Consumerist Archives
Consumerist isn’t any longer creating content that is new but go ahead and search through our archives. Right right Here you will find 12 years well well worth of articles on sets from how to prevent dodgy frauds to composing a complaint letter that is effective. Have a look at a few of our greatest hits below, explore the groups noted on the left-hand part of this web web web page, or check out CR for ranks, reviews, and customer news.
The buyer 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 offer $5 million in refunds to customers together with having to pay a $5 million penalty for the violations that are alleged.
ACE, which currently runs on the internet and through 1,500 retail storefronts in 36 states, provides pay day loans, check-cashing services, title loans, installment loans as well as other lending options.
Regulators state they discovered that ACE and its particular third-party collection operators utilized illegal tactics such as for instance harassment and false threats of legal actions and unlawful prosecution to stress customers to obtain extra loans.