Payday loan providers settle SC course action lawsuit action

Friday

A $2.5 million settlement happens to be reached into the 2007 course lawsuit brought by South Carolina borrowers resistant to the state’s payday financing industry.

A $2.5 million settlement happens to be reached when you look at the 2007 course action lawsuit brought by sc borrowers from the state’s payday financing industry.

The agreement that is sweeping produce tiny settlement claims — about $100 — for anybody whom took away a short-term, high-interest cash advance with such loan providers as Spartanburg-based Advance America, Check Into Cash of sc and much more than a dozen other people between 2004 and 2009. Read more…