California Department of Business Oversight Advises Caution for Payday Loan Consumers. The Department has posted an updated Internet Payday Lending Alert
for consumers who might consider using payday cash advances from
online lenders. This update is in addition to two previous alerts posted
by the Department which may be found here: Internet Payday Lending Alerts.
The Department warns potential
borrowers to take extra caution when dealing with unlicensed Internet
payday lenders who fail to obtain a license with the Department of
Business Oversight, evading state laws and regulations designed to
protect consumers. The Alert provides advice and contact information to
report unlicensed lenders.
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