Handy Cash, of Nevada, filed for bankruptcy after the state dropped a $160k fine and under the stress of a class action lawsuit. I’m getting some conflicting information in Nevada. One source tells me the rates are capped at 40% interest. If you go to CashNetUSA, they charge $25 per $100 loaned and you can […]
Category Archives: Nevada
Nevada Intenet Lenders Under Fire
Internet payday lenders received a setback recently. The FTC and the state are seeking to permanently bar 7 US companies (and 4 other British companies were named in the order) from “future violations”, whatever that means; and return any money made while allegedly using illegal collection tactics. Sound pretty vague, if you ask me. Last […]
Nevada trying to cut down on Internet payday loans
George Burns, Commissioner of the Financial Institutions Division, wants Nevada to stop Nevada licensees from giving loans to borrowers in other states. He doesn’t have a problem if you are licensed in that “other” state. Mr. Burns may have a legitimate beef, but it’s probably misdirected. His department has to deal with these complaints. He […]
Also posted in Internet Lending, Regulation
