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Payday loan providers settle SC course action lawsuit

Payday loan providers settle SC course action lawsuit

Friday

A $2.5 million settlement is reached into the 2007 course action lawsuit brought by sc borrowers contrary to the state’s payday financing industry.

A $2.5 million settlement is reached within the 2007 course action lawsuit brought by sc borrowers contrary to the state’s payday lending industry.

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

Richland County Circuit Judge Casey Manning first must accept the regards to the settlement. A fairness hearing on that matter is scheduled for Sept. 15. The lending that is payday keeps it offers perhaps perhaps not broken any laws and regulations, whilst the legal actions allege.

Payday financing clients within the time that is affected who would like to engage in the settlement have actually until Sept. 1 to register a one-page claim application, offered at scpaydayclaimsettlement.net.