Massachusetts Office of Consumer Affairs Announce Shut Down of Debt Collector and Action against Five Unlicensed Predatory Lenders
The Massachusetts Office of Consumer Affairs and Business Regulation and the Division of Banks announced a series of cease orders targeting unlicensed lenders and a licensed debt collector that were not adhering to the state’s loan consumer protections. These loans are illegal under the Massachusetts small-loan statute because they include excessively high interest rates and…
