California payday lender refunds $800,000 to settle predatory lending allegations
WASHINGTON - A California payday lender is refunding about $800,000 to consumers to settle allegations that it steered borrowers into high-interest loans and engaged in other illegal practices, state officials said Monday.
California Check Cashing Stores also agreed to pay $105,000 in penalties and other costs in a consent order with the state's Department of Business Oversight, which has been cracking down on payday and other high-cost consumer loans that critics allege are predatory. The company did not admit guilt in the consent order.
The department, which oversees financial service providers and products, has
