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OCC Takes Action Against ACE Money Express, Inc. and Goleta Nationwide Bank

OCC Takes Action Against ACE Money Express, Inc. and Goleta Nationwide Bank

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WASHINGTON any office for the Comptroller associated with Currency announced today that ACE money Express, Inc., and Goleta nationwide Bank, Goleta, California, signed cease and desist instructions needing them to finish unsafe and unsound lending that is payday and also to spend $325,000 in civil cash charges. ACE is really a service that is third-party for Goleta into the origination, servicing, and number of the pay day loans booked because of the bank. ACE provides payday advances on behalf of Goleta in 18 states in addition to District of Columbia.

ACE consented to end lending that is payday undertaken through Goleta by Jan. 1, 2003, and also to pay $250,000 in penalties. Continue reading OCC Takes Action Against ACE Money Express, Inc. and Goleta Nationwide Bank