Interstate Lending, LLC
On September 20, 2016, the Consumer Financial Protection Bureau (Bureau) filed a Notice of Charges against Interstate Lending, LLC for allegedly failing to disclose the annual percentage rate in online advertisements about title loans. The Bureau alleges that the companies advertised a periodic interest rate for their loans without listing the corresponding annual percentage rate. The Bureau settled its claims through consent order against Interstate Lending on December 20, 2016. The order requires Interstate Lending to pay a $4,000 penalty to the Bureau and ensure that its title lending practices comply with the law.
Notice of charges
CFPB Sues Five Arizona Title Lenders for Failing to Disclose Loan Annual Percentage Rate to Consumers