California Department of Corporations Advises Caution for Payday Loan Consumers

California Department of Corporations Advises Caution for Payday Loan Consumers.

The Department of Corporations has posted an Internet Payday Lending Alert for consumers who use payday cash advances from online lenders.

The Alert warns potential borrowers to take extra caution when dealing with unlicensed Internet payday lenders who fail to obtain a license with the Department of Corporations, evading state laws and regulations designed to protect consumers. The Alert provides advice and contact information to report unlicensed lenders.

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