Bureau Alleges All Check that is american cashing Charges and Pressured Borrowers into Several Loans
WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) today took action against All Check that is american Cashing Inc., that provides check cashing and payday advances, and its particular owner, for presumably tricking and trapping consumers. The CFPB alleged that All American tried to keep consumers from learning how much they would be charged to cash a check and used deceptive tactics to stop consumers from backing out of transactions in a complaint filed in federal court. The CFPB additionally alleged that every American made statements that are deceptive some great benefits of its high-cost payday advances and in addition neglected to offer refunds after customers made overpayments on the loans. The CFPB’s lawsuit seeks to finish All American’s practices that are unlawful get redress for customers, and impose charges.
”Today our company is using action against All Check that is american cashing tricking and trapping consumers, ” said CFPB Director Richard Cordray. “Consumers deserve accurate and truthful information from the finance institutions they be determined by, but All United states instead devised elaborate schemes to cover up costs and make use of susceptible borrowers. […]