Post ID 42402

Ace Settlement: Another Blow to Payday Lenders. Ace money Express Inc.’s contract to stop brokering loans

Ace money Express Inc.’s contract to end brokering loans in Colorado for the Ca bank is certainly one of a sequence of setbacks for payday lenders that partner with national banking institutions. The other day the Colorado lawyer general’s workplace announced that the settlement have been reached with its 10-month-old lawsuit against Ace. The Irving, Tex., payday lender consented to stop utilizing the charter for the $317 million-asset Goleta nationwide Bank which will make high-interest loans into the state. (more…)