6 Payday Lenders Told to Stop Making Loans
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The California Department of Corporations said that it had ordered six unlicensed payday-lending stores to quit making the high-cost, short-term loans, its first such actions in Southern California since it began regulating the industry at the beginning of the year.
The orders were issued to Anyday’s Payday & Loan in Yucaipa, Lancaster-based Cash It Quick, D&J; Market in Hesperia, Express Cash Advance in Lake Elsinore, K&W; Check Cashing in Gardena and Santa Ana-based Pro Check Cashing.
D&J; said it had quit the business. Several other shop owners complained they hadn’t yet qualified for licenses because of trouble with paperwork and obtaining new bonds required by the department.
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-- E. Scott Reckard
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