A $2.5 million settlement was reached into the 2007 class 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 — proper 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 others between 2004 and 2009.
Richland County Circuit Judge Casey Manning first must accept the terms of the settlement. A fairness hearing on that matter is planned for Sept. 15. The payday financing industry keeps it offers maybe perhaps maybe not broken any rules, since the legal actions allege. Continue reading