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Attorney General Kane files lawsuit over alleged payday loan scheme that is illegal
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Attorney General Kane files lawsuit over alleged unlawful cash advance scheme
Attorney General Kathleen G. Kane today announced a customer security lawsuit against A texas-based business for presumably engineering an unlawful cash advance scheme on the internet. In line with the lawsuit, the defendants allegedly targeted Pennsylvania consumers in breach of state legislation.
The civil lawsuit ended up being filed into the Court of Common Pleas of Philadelphia County against Think Finance Inc. (formerly ThinkCash), TC Loan solutions LLC, Elevate Credit Inc., Financial U LLC and former ceo Kenneth E. Rees. Rees while the businesses utilize a target of 4150 Global Plaza, Suite 400, Fort Worth, Texas.
Pay day loans, which typically charge rates of interest up to 200 or 300 per cent, are unlawful in Pennsylvania.