Payday Loan Industry Watch Home News: Archive News: Recent News: RSS Newsfeeds News: Archive News: By State News: By Big 7 Podcasts Reviews Tips Links
About Us
Contact Us
Donate/Sponsor
Site Help
Find a Lender
Header

Payday lender Check 'N Go faces license revocation, fines

August 17, 2006 - Olympia, Washington

Washington state's Department of Financial Institutions (DFI) alleges that Check 'N Go of Washington, Inc. collected multiple checks from borrowers to secure loans. DFI said it intends to revoke Check 'N Go's license, impose fines, order restitution, and charge for the cost of the investigation.

Although aggressive in their tactics against the payday lending industry, DFI's publications are at least fair, and offer real-world advice supported by the payday loan industry. See the Community Financial Services Association's Payday Loan Industry Best Practices here.

DFI claims that Check 'N Go stores in Puyallup, Tacoma, and Lacey required borrowers to write multiple checks to secure a single payday loan and collecting NSF fees from at least 29 borrowers when the multiple checks were returned unpaid. Washington's payday lending laws allow a maximum one-time fee of up to $25 for an unpaid check on a single payday loan.

DFI also claims Check 'n Go obtained and stored personal identification numbers of of at least 19 consumers without their consent or knowledge.

If true, the charges could result in a revocation of Check 'N Go's license and fines of $333,700. Check 'N Go may request a hearing to defend the charges.

Check 'N Go of Washington, Inc. operates 15 stores throughout Washington.

News Source

RTO Online, Staff Writer

Related Stories - Washington

Return

See: Recent News | Archived News | RSS Newsfeeds | News by State
Go to PLIWatch.org home.

E-mail This Page Open a new window and send this page to a friend.
Share this page by E-mail.
Podcasts Podcasts page.
Interview with David Farias - Founder, FYGO.com
Payday loan opponents caution people against taking payday loans. We interviewed David to better understand the practice and viability of an emerging source for loans: The Internet social lending network.

Interview with Pete Kowenhoven - Special Agent, FBI
Interview with Dr. Tom Lehman - Author of 'In Defense of Payday Lending'
Interview with Bill McCloskey - Email Data Source President and CEO
Find a Lender Find a Lender page.
Claims to lend
To residents of
With fees per $100 loaned
On the Web since
reviewed by PLIWatch
small payday loan industry watch logo
Recent RSS Newsfeeds Archive Shown by State Shown by 'Big 7'
Home News & RSS Podcasts Reviews Tips Links Find a Lender About Us Contact Us Donate / Sponsor Site Help
Terms of Use Privacy Policy Site Map copyright © 2005-2022 pliwatch.org all rights reserved Updated: Nov 22, 2022 07:57 EST