DFI spokesman George Althoff confirmed that some loans aren’t reported under pay day loan statutes.

DFI spokesman George Althoff confirmed that some loans aren’t reported under pay day loan statutes.

Between 2011 and December 2015, DFI received 308 complaints about payday lenders july. The division reacted with 20 enforcement actions.

Althoff said while ‘DFI makes every work to ascertain in cases where a breach associated with the payday financing legislation has happened,’ a few of the complaints had been about tasks or businesses perhaps not managed under that legislation, including loans for 91 times or maybe more. (more…)

Continue Reading DFI spokesman George Althoff confirmed that some loans aren’t reported under pay day loan statutes.