Category Archives: Legit Installment Loans In North Dakota

DBO Payment with Advance America Subsidiary Continues Crackdown on Rate Of Interest Cap Avoidance

$160,000 Contract Provides Borrower Refunds, Charges

SACRAMENTO – The Department of Business Oversight (DBO) finalized a settlement with Advance America’s California subsidiary that continues a broader DBO crackdown on lender avoidance of interest rate limits on small-dollar consumer loans today.

“California consumers deserve a zero-tolerance policy with regards to lender practices that can cause borrowers to cover greater interest levels than they ought to under state law, ” said DBO Commissioner Jan Lynn Owen. Continue reading