Our first enforcement action against a payday lender
Today we’re announcing an enforcement action against payday lender Cash America International, Inc., one of the largest short-term, small-dollar lenders in the country. The company has agreed to reimburse up to $14 million to approximately 14,000 people for robo-signing practices related to debt collection lawsuits. The company will also pay a $5 million penalty for the violations and other misconduct.
Who is eligible for a refund?
You may be eligible for a full refund if you paid money because of a collections lawsuit from January 1, 2008 through October 1, 2012 to any of the following companies:
Ohio Neighborhood Finance, Inc., d/b/a Cashland
Cash America Pawn, Inc. of Ohio
Cashland Financial Services, Inc.
Cash America Net of Ohio, LLC
Ohio Neighborhood Credit Solutions, Inc.
CNU of Ohio, LLC.
If you have not already received your refund, or think you received the wrong amount of refund, please contact the company administering the refund no later than May 19, 2014. You can call them at (877) 524-8480 or find more information on their website: www.voluntaryloanrefundprogram.com
Problem with a payday loan?
You can submit a complaint online or by calling (855) 411-2372.
You can also get clear, unbiased answers to questions about payday loans on Ask CFPB.