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 This material may not be published, broadcast, rewritten or redistributed.)


One Comment

  1. G Dog says:

    Dang liberals going after free enterprise again.

    1. teabaghater says:

      they rip people off you dum tea bagger

  2. F Cat says:

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

    1. teabaghater says:

      shove it with your teabag bs

  3. dan says:

    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!

    1. teabag hater says:

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

  4. Liz Taylor says:

    This is a great site post. Thank you very much for the wonderful insight and we really appreciate the time you took to write this. thanks again.


Leave a Reply

Fill in your details below or click an icon to log in:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From WCCO | CBS Minnesota

Good Question

Listen Live