Payday advances like ace cash express violated Ca’s check cashing laws
Contact: Linda Sherry or Ken McEldowney, 415-777-9648 James C. Sturdevant, The Sturdevant lawyer, 415-477-2410
Lawsuit expenses that ACE violated Ca’s check cashing laws
May 22, 2003 – bay area, CA – client Action today filed case today in San Francisco Superior Court against ACE cash Express Inc., alleging that ACE is breaking Californiacheck cashing regulations by trying to sell short-term loans at inflated and illegal interest rates to naive clients. ACE will be the biggest owner, operator and franchiser of check-cashing stores in the usa, and contains or controls something higher than 1,100 stores nationwide. Client Action is represented by The Sturdevant attorney and Sheldon V. Burman.
For many years, ACE is actually concentrating on low- and moderate-income families with a check cashing solution supplied by its stores. The stark reality is, this can be essentially the short-term loan of handful of money at an incredibly higher level of great interest. ACE encourages these loans, called “deferred-deposit” or “payday” loans, to cash-strapped individuals looking for some hundred dollars. Читать далее →