Peoples nationwide Bank to cover $175,000 Civil Money Penalty And End Payday Lending union with Advance America

Peoples nationwide Bank to cover $175,000 Civil Money Penalty And End Payday Lending union with Advance America

WASHINGTON any office regarding the Comptroller for the Currency announced today that Advance America, money Advance Centers, Inc. and Peoples nationwide Bank, Paris, Texas, have actually consented to end their payday financing arrangement and that the lender has consented to spend $175,000 in civil cash charges.

The consent purchases mark the 4th set that is such of actions the OCC has had since January 2002, involving nationwide banking institutions which have entered into plans with payday lenders. With one of these actions, no payday lenders are any longer carrying on company via a relationship having a nationwide bank.

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