Payday Lender Moneytree Hit With Cease-And-Desist Order

4/26/2010

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Payday lender Moneytree was hit with a cease-and-desist order by Washington state regulators, because it allegedly allowed borrowers to take out to many loans at once, according to the Puget Sound Business Journal.

Since a new law that went into effect Jan. 1, this is the first enforcement action to any of Washington's 109 payday lenders.

Have you used a payday lender before? Let us know!

>> Read more: Washington state regulators slap Moneytree with cease-and-desist order - Puget Sound Business Journal (Seattle)
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