Olympia, WA – In hawaii’s biggest payday lending enforcement action, the Department of banking institutions (DFI) filed fees against payday loan providers, Advance Til Payday and Zippy money. One of the many allegations of misconduct, the payday lenders made over 400 loans more than their state’s $700 maximum loan restriction. DFI promises to revoke both ongoing businessesвЂ™ licenses, ban the folks from conducting business in Washington State, enforce fines, purchase restitution, and fee for the cost of the investigations. The businesses may request a hearing to guard the costs.
“we shall not tolerate lenders that are payday customers by overstepping the appropriate 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 analyze customer complaints and control violators of Washington’s payday financing laws and regulations.”
Although the two businesses represented on their own as two individually owned entities, the division uncovered proof that Advance Til Payday and Zippy Cash have typical ownership.