Colorado Joins CFPB in Suing CashCall Short-Term Lender
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CashCall Inc., an Anaheim, California-based short-term money lender, and Chief Executive Officer J. Paul Reddam were sued and accused of abusive lending practices by the U.S. Consumer Financial Protection Bureau.
The lawsuit, filed today in federal court in Boston, is the regulator’s first against a firm that makes its loans via the Internet, CFPB Director Richard Cordray said today in a telephone press conference.