During the simply simply simply click of the mouse, unlicensed payday lenders positioned various other states are cashing in on Minnesota customers. Some payday lenders are taking their business online, charging customers big fees for small cash loans as Minnesotans struggle financially in tough economic circumstances.
Acknowledging this growing issue, Commerce Commissioner Mike Rothman took action this week on the behalf of Minnesota customers, breaking straight straight down on four payday loan providers for presumably 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 trying to protect Minnesota customers from unlicensed lending that is payday 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