Arizona Attorney General Settles Action Against Internet Payday Loan Lead Generator

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On July 30, Arizona Attorney General Tom Horne announced an agreement with an Internet lead generator that requires the firm to halt operations through which it solicited information on behalf of payday lenders. Under state law, lenders have been prohibited from offering payday loans to Arizona consumers since July 2010. The Attorney General alleged that the settling company operated a website that collected Arizona consumers’ personal information and then sold that information to payday lenders who subsequently offered illegal payday loans to those consumers. While the agreement requires that the lead generator cease collecting and transmitting consumer information in connection with any type of consumer loan, it does not include any monetary payment beyond attorney fees.

 

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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