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Iowa Legal News | Cedar Rapids Lawsuit News

Class Action Against Payday Lender Settled.


Posted on Sep 22, 2010

A settlement agreement has been reached between consumers’ attorneys and Advance America, Inc., the largest payday lender in the nation.  The lawsuit accused Advance America of charging illegal fees and interest rates. 

Payday loans are permitted under Iowa law.  However, under Chapter 533D, the loans are subject to a number of restrictions and limitations, including maximum loan amount, loan term and finance rate and prohibitions against repayment, refinancing or consolidation. 

If you believe you have been a victim of unfair illegal payday loan procedures in Iowa, you should contact an attorney.  Brady & O’Shea attorneys have provided representation to consumers in pursuing class action and consumer fraud claims.

Read More About Class Action Against Payday Lender Settled....

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