Payday loan providers settle SC course action lawsuit $2.5 million settlement happens to be reached when you look at the 2007 course action lawsuit broug

Payday loan providers settle SC course action lawsuit $2.5 million settlement happens to be reached when you look at the 2007 course action lawsuit broug

Friday

A $2.5 million settlement happens to be reached within the 2007 course action lawsuit brought by South Carolina borrowers up against the state’s payday lending industry.

A $2.5 million settlement happens to be reached within the 2007 course action lawsuit brought by sc borrowers up against 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 pay day loan 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.

Richland County Circuit Judge Casey Manning first must accept the regards to the settlement. A fairness hearing on that matter is planned for Sept. 15. The payday financing industry keeps this has perhaps perhaps maybe maybe not broken any rules, once the legal actions allege.

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