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CFPB: ACE Money Express Need To Pay $10M For Pushing Borrowers Into Cash Advance Pattern Of Financial Obligation
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 bad credit badcredit loans 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 spending a $5 million penalty when it comes to so-called violations. Continue reading ACE Money Express Must Spend $10M For Pushing Borrowers Into Pay Day Loan Pattern Of Financial Obligation