Utah Loan Firm Global Payday Loan Among 3 Sued Over Rates, Licenses

Summary


ST. PAUL, Minn. -- Minnesota Attorney General Lori Swanson on Wednesday sued three Internet companies offering short-term loans, including one Utah-based firm, accusing them of operating without proper registration and charging interest rates that topped 2,700 percent in one case.

Swanson's lawsuits in state court mark the latest legal offensive against the payday loan industry and follows similar actions in California, Illinois and West Virginia.

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Utah Loan Firm Global Payday Loan Among 3 Sued Over Rates, Licenses

She said all three -- East Side Lenders of Delaware, Global Payday Loan of Utah and Jelly R...

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