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Prohibited on the web loan providers plague cash advance industry
Payday loan providers have now been around for a long time, providing quick-but-pricey loans to borrowers that are distressed.
From hundreds of walk-in storefront offices, they loan away little amounts to be repaid through the borrowerвЂ™s next paycheck.
Today, theyвЂ™re getting elbowed aside by a cadre that is growing of rivals who arenвЂ™t certified and whom increasingly are accused of ripping off consumers. Final month, the Ca Department of Business Oversight warned customers to watch out for rogue online lenders вЂ” usually found overseas or that is overseas provide enticing come-ons from splashy internet sites, but whom may keep borrowers small recourse if one thing goes incorrect. (more…)