CFPB gets in into permission order with small-dollar loan provider to stay alleged TILA and UDAAP violations

The CFPB announced so it has entered into a permission purchase with principal Street Personal Finance, Inc. and two subsidiaries (Main Street), each a small-dollar loan provider, to stay the CFPB’s allegations that principal Street (1) violated the reality in Lending Act plus the CFPA’s UDAAP prohibition by underdisclosing the finance cost on auto-title loans entered …

CA Dept. of company Oversight files action against name lender for CA legislation violations; launches research into whether lender’s interest levels are unconscionable

The Ca Department of company Oversight (DBO) has filed an enforcement that is administrative against a name loan provider for so-called violations of Ca legislation and established a study into if the rates of interest charged by the lending company are unconscionable. Plus »