Responsible Lending
Every lender in our panel of authorized lenders is required by law to abide by the rules and regulation of State and Federal governments. We provide our customers this information to help you rest assured you can rely on our company to provide a transparent experience. Responsible lending starts with you but also with rules and regulations to prevent abuse.
Disclosure of Fees Including APR
All payday lenders must adhere to the Truth in Lending Act as required by law. Once you submit your application and before you're funds are transferred to your account you will be provided with the information outlining the exact details of your loan terms, including fees and interest rates that will be assessed.
Frank-Dodd Wall Street Reform Act
The Frank-Dodd Act requires paycheck lenders to follow fair lending practices in every state, which are defined as “fair, equitable, and nondiscriminatory access to credit for consumers”. If you feel that your lender is not abiding by the rules set forth by the Frank-Dodd Act you can file a complaint with the CFPB, also known as the Consumer Financial Protection Bureau.
Commitment to Fair Debt Collections
While you are repaying your loan you are will always be protected by the Fair Debt Collections Act, which is overseen by the Federal Trade Commission in the United States. All lenders within our panel of authorized lenders are required to follow all of the rules and regulations of this act as required by law. The act requires that lenders comply with fair debt collection practices by law, which include:
- Not contacting you by phone before 8 am or after 9 pm.
- Not harassing you or using abusive language towards you over the phone.
- Not using deception to try to collect money from you.
- Not threatening you with legal action if it is not permitted.
Federal and State Regulations
All lenders in our network are required to act in accordance with all federal laws. Each state also has their own laws that govern paycheck advance loans.
