California Check Cashing Stores agrees to $900K Settlement over Interest Rate Cap Avoidance

The California Department of Business Oversight (DBO) found that California Check Cashing Stores (CCCS) willfully misled and deceived borrowers to evade the California Financing Law (CFL) interest rate cap. This settlement requires that CCCS pays $105,000 in costs and penalties and refunds approximately $800,000 for consumer loans and payday loan transactions. Consumers who believe they may qualify for