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DFI spokesman George Althoff confirmed that some loans aren’t reported under pay day loan statutes.

DFI spokesman George Althoff confirmed that some loans aren’t reported under pay day loan statutes. Between July 2011 and December 2015, DFI received 308 complaints about payday loan providers. The division reacted with 20 enforcement actions. Althoff said while ‘DFI makes every work to find out in case a violation associated with payday financing legislation has taken place,’ a few of the complaints were about activities or organizations perhaps maybe not regulated under that law, including loans for 91 times or maybe more. Most of…

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