Payday lenders ordered to pay N.C. consumers $9M

Three years after a state lawsuit was filed, a court has ruled that North Carolinians who took out loans from online fast-cash lenders CashCall and Western Sky can share in more than $9 million in refunds. The sum comes out of a settlement jointly announced Tuesday by Attorney General Roy Cooper and Commissioner of Banks Ray Grace. Cooper and the N.C. Office of the Commissioner of Banks had filed suit against the companies in 2013, alleging that they violated state laws banning excessive interest…

from Charlotte Business News - Local Charlotte News | Charlotte Business Journal http://www.bizjournals.com/charlotte/news/2016/06/23/payday-lenders-ordered-to-pay-n-c-consumers-9m.html?ana=RSS%26s=article_search