Spartanburg Newswire

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  1. Payday lender to settle fee-practices probeRead the original story w/Photo

    Mar 12, 2018 | American Banker

    The payday lender Advance America has agreed to pay $160,000 to the state of California to settle a probe into its rates on installment loans. The Spartanburg, S.C., company will refund $82,000 to borrowers who were overcharged and pay a $78,000 fine, according to a Monday news release issued by the California Department of Business Oversight.


  2. States mull loosening of laws in response to CFPB payday ruleRead the original story w/Photo

    Feb 1, 2018 | American Banker

    The Consumer Financial Protection Bureau's payday loan rule was supposed to reduce the number of Americans who get mired in debt they can't afford. But in an ironic twist, the 4-month-old rule is being used in state legislatures to justify the creation of a new category of loans that would be even costlier for many borrowers.


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