DBO Continues Crackdown on prohibited Loans in payment with car Title Lender TitleMax of Ca, Inc.

Written by martin. Posted in Installment Loans Ohio

DBO Continues Crackdown on prohibited Loans in payment with car Title Lender TitleMax of Ca, Inc.

SACRAMENTO – The Ca Department of company Oversight (DBO) today finalized a settlement with car name loan provider TitleMax of California, Inc., continuing a three-year crackdown on unlawful customer loans.

The settlement will deliver almost $700,000 in refunds to a lot more than 21,000 TitleMax customers and need the lender that is georgia-based spend a $25,000 penalty to solve allegations so it regularly charged extortionate and unlawful interest levels and charges.