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Herrera’s lender that is payday case $7.7 million for borrowers — at zero cost to taxpayers

Herrera’s lender that is payday case $7.7 million for borrowers — at zero cost to taxpayers

Check always Go and cash Mart litigation settlement secures direct restitution to overcharged customers, employed innovative social networking outreach strategies

SAN FRANCISCO BAY AREA (August 5, 2013) — City Attorney Dennis Herrera today announced that a lot more than 2,000 claimants for restitution from storefront payday loan provider Check Go will start getting reimbursement checks this week due to his office’s consumer protection litigation settlement and statewide outreach system. All Check Go claimants are required to get their reimbursement checks — totaling almost $2.2 million — by the finish associated with the thirty days, based on the separate settlement administrator. The re re payments to test get borrowers conclude an important customer security effort by Herrera’s office that previously netted significantly more than $5.5 million in similar refunds from payday lender cash Mart/Loan Mart for a few 8,100 claimants statewide.

As a whole, Herrera’s litigation guaranteed $7,725,324 for longer than 10,000 qualified borrowers throughout Ca.

“This has been a extremely successful effort — not just to win restitution for California borrowers whom deserve it, but to deliver a note to payday loan providers that they’ll be held responsible for flouting consumer protection laws,” said Herrera. “I’m very grateful towards the numerous officials that are elected community businesses and customer advocates whom worked so very hard to coach prospective claimants concerning the refund programs. It had been an excellent effort that is collaborative maximized restitution for borrowers, and showed that California’s customer security laws and regulations have actually teeth.”

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