Media Contact for Unlicensed Lenders to Refund Millions to Consumers Over prohibited on the web Lending Scheme
Chris Goetcheus, Communications Director
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Boston, MA — Attorney General Maura Healey in addition to Division of Banking institutions reach funds contract with tiny installment loan companies, their companies that are affiliated and owners, after allegations why these organizations made unlawful, high-interest loans on the internet to numerous of customers without the right permit or registration to conduct company in Massachusetts.
The consent judgment (PDF attached) joined Monday in Suffolk Superior Court against Western Sky Financial, LLC, WS Funding, LLC, CashCall, Inc., Delbert Services Corporation, and their owners, Martin Webb and J. Paul Reddam, forever enjoins them from doing any company in Massachusetts or gathering excessive interest on outstanding loan balances, and needs lenders to refund all interest fees over the statutory rate and charges compensated by customers beyond their major loan quantity.