The OSBC received a problem from the Kansas customer about that loan deal with Quik Payday.
The agency reacted by buying Quik Payday, that has been instead of its selection of licensed lenders that are supervised to create papers regarding its loans to Kansas residents. Quik Payday submitted the required papers, which unveiled the above-mentioned 3,079 payday advances to 972 Kansas residents. The OSBC issued a synopsis purchase that needed Quik Payday to quit all lending that is payday Kansas residents, halt any collections on outstanding loans, spend a civil penalty of $5 million, and go back to the borrowers the attention, solution costs, and earnings through the 3,079 loans. Continue reading