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DFI spokesman George Althoff confirmed that some loans aren’t reported under pay day loan statutes.

DFI spokesman George Althoff confirmed that some loans aren’t reported under pay day loan statutes.

Between 2011 and December 2015, DFI received 308 complaints about payday lenders july. The division reacted with 20 enforcement actions.

Althoff said while ‘DFI makes every effort to ascertain in case a breach associated with payday financing legislation has happened,’ a number of the complaints had been about tasks or organizations maybe not regulated under that legislation, including loans for 91 times or higher.Read More