Payday Lenders Slapped With Over $1.2 Million in Fines DFI that is following Research

Olympia, WA – In hawaii’s largest lending that is payday action, the Department of finance institutions (DFI) filed fees against payday loan providers, Advance Til Payday and Zippy money. The payday lenders made over 400 loans in excess of the state’s $700 maximum loan limit among the numerous allegations of misconduct. DFI promises to revoke both ongoing organizations’ licenses, ban the individuals from conducting business in Washington State, enforce fines, purchase restitution, and charge for the expense of the investigations. The firms may request a hearing to guard the fees.

“we shall not tolerate lenders that are payday customers by overstepping the legal restrictions set because of the legislature,” stated Deb Bortner, Acting Director of DFI’s Division of customer Services. “DFI will carry on working faithfully to research customer complaints and control violators of Washington’s payday financing legislation.”

The department uncovered evidence that Advance Til Payday and Zippy Cash have common ownership though the two companies represented themselves as two separately owned entities.