Payday Lender to Refund Up to $7.5M for Alleged prohibited Lending techniques

Payday advances made at Money Mart or Loan Mart places had been speculated to have interest levels as much as 400 per cent

If you borrowed funds from payday lenders Money Mart or Loan Mart between 2005 and 2007 – perhaps paying interest as much as 400 % – you may well be qualified getting much of your cash back.

Due to the settlement of the customer protection lawsuit filed by the town of bay area, Ca victims of so-called unlawful financing methods because of the lender qualify for between $20 and $1,800 in restitution.

Claim kinds should be mailed by due Oct. 1. Payment checks should be delivered early the following year.

At a news conference in front of a hollywood money mart branch, los angeles city councilman eric garcetti and san francisco city attorney dennis herrera urged eligible customers of “loan sharking” to file to get their money back tuesday.

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