During the simply simply click of a mouse, unlicensed payday lenders positioned in other states are cashing in on Minnesota customers. As Minnesotans challenge economically in tough financial circumstances, some payday loan providers are using their online businesses, charging you clients big costs for tiny money loans.
Acknowledging this growing issue, Commerce Commissioner Mike Rothman took action this week with respect to Minnesota customers, breaking straight straight down on four payday loan providers for allegedly supplying customer tiny loan solutions on the internet without having a license that is proper.
Complaints gotten by the Commerce Department from three Minnesota customers led to formal fees against: Omega Investments, Ltd., LLC in Salt Lake City, Utah; Sanguine, Inc. of Wilmington, Delaware; Ameriloan of Miami, Oklahoma; and Pack Management Group, Inc. of Carson City, Nevada. All four businesses aren’t certified because of the Minnesota Department of Commerce, but have allegedly supplied pay day loans to Minnesota customers on the internet.
вЂњWe are attempting to protect Minnesota customers from unlicensed payday financing companies that benefit from them,вЂќ said Rothman. вЂњPayday lending organizations вЂ“ on line and down the street вЂ“ have to obey the financing legislation that protect consumers.вЂќ