Herrera Sues Storefront вЂPayday Lenders’ for Prohibited Company Techniques, Deceptive Advertising
Illegal Lending Schemes by Check вЂn Go, Money Mart Target Low-Income Borrowers With Interest Exceeding 400 Percent APR
City Attorney Dennis Herrera today filed suit against storefront lending organizations Check вЂn Go and Money Mart, as well as their online affiliates as well as an associated out-of-state bank, for illegal, unjust and fraudulent company methods stemming from their advertising of short-term installment loans at illegal rates of interest to low-income borrowers. The lawsuit names Wilmington, Del.-based First Bank of Delaware (OTC:FBOD) as a defendant for aiding and abetting the storefront institutions' illicit lending schemes in addition to Check вЂn Go, Money Mart and its affiliates.