Companies that Own and Handle Payday Lending

A business that delivers administration solutions to significantly more than 300 cash advance and look cashing stores, and an company that is affiliated owns and operates a few shops, can pay $101,500 to be in Federal Trade Commission costs they violated federal legislation by enabling delicate customer information to be tossed into trash dumpsters.

The FTC charged that PLS Financial solutions, Inc., in addition to pay day loan shop of Illinois, Inc., neglected to just just take reasonable measures to safeguard customer information, causing the disposal of papers containing sensitive and painful personal information that is identifying including Social protection numbers, work information, applications, banking account information, and credit reports – in unsecured dumpsters near a few PLS Loan Stores or PLS Check Cashers places PLS Group, Inc., which has PLS Financial Services as well as the cash advance Store of Illinois, had been additionally known as when you look at the issue.

Based on the grievance filed because of the FTC, PLS Financial Services together with pay day loan shop of Illinois violated the FTC’s Disposal Rule by failing woefully to just simply just take steps that are reasonable drive back unauthorized usage of customer information into the disposal of credit history. Additionally they allegedly violated the Gramm-Leach-Bliley Safeguards Rule and Privacy Rule, which need banking institutions to produce and employ safeguards to safeguard customer information, and deliver privacy notices to customers. Further, the FTC charged that every three defendants violated the FTC Act by misrepresenting which they had implemented reasonable measures to guard painful and sensitive customer information.

Read More