DFS ANNOUNCES PAYMENT WITH PAYDAY DEBT COLLECTOR AND PAY DAY LOAN SERVICER CAUSING ALMOST $12 MILLION OF LOAN FORGIVENESS FOR LARGE NUMBER OF NEW CONSUMERS that are YORK

DFS ANNOUNCES PAYMENT WITH PAYDAY DEBT COLLECTOR AND PAY DAY LOAN SERVICER CAUSING ALMOST $12 MILLION OF LOAN FORGIVENESS FOR LARGE NUMBER OF NEW CONSUMERS that are YORK

Total Account healing and E-Finance Call Center help to cover $45,000 Penalty for Servicing and Collecting on Illegal payday advances in New York

Financial solutions Superintendent Maria T. Vullo today announced that the Department of Financial Services (DFS) has entered into a permission purchase with Total Account healing, LLC (TAR), an online payday loan debt collector, and E-Finance Call Center help (conducting business as E-Finance), a cash advance servicer. The settlement announced provides for nearly $12 million in loan forgiveness for New York consumers and that the companies will cease activities in New York today. E-Finance serviced and TAR gathered on illegal payday advances built to ny customers. (more…)