Minnesota AG Suing 5 Payday Lenders

MINNEAPOLIS (AP) — The Minnesota Attorney General is suing five short-term Internet lenders.

According to the attorney general’s office, the deals contained unlawfully high annual interest rates of up to 782 percent that were often illegally extended from paycheck to paycheck, trapping the consumer into high interest payments over an extended time.

The five companies named in the separate lawsuits filed Thursday are Flobridge Group, LLC of Utah, Integrity Advance of Delaware, Silver Leaf Management of Utah, Sure Advance, LLC of Delaware, and Upfront Payday of Utah.

Messages and emails sent by The Associated Press to several of the companies were not immediately returned Tuesday.

Attorney General Lori Swanson warned Minnesotans against taking out loans over the Internet from unlicensed lenders, citing a growing amount of complaints to her office.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

  • G Dog

    Dang liberals going after free enterprise again.

    • teabaghater

      they rip people off you dum tea bagger

  • F Cat

    Libby’s can’t manage money very well,so these places fit their need.

    • teabaghater

      shove it with your teabag bs

  • dan

    So you are dumb enough to take a loan at 782% but they cry foul? Did you not read the paperwork you signed? I guess the Democrats are always looking for voters!

    • teabag hater

      its not just that idoit they are ripping people off teabag dumb ass

  • Liz Taylor

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