Internet Loan Provider Fined

An internet loan provider makes history tonight but it's not something to smile about.

The Illinois Department Of Financial Regulation filed an order against Global Payday Loan. Ordering the money lender to stop issuing online loans to Illinois residents.

Global was also slapped with a $234,000 fine, that's the largest fine in Illinois history against a lender.

Global's being fined for charging customers high interest rates and ignoring consumer protection regulations.


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