Responsible Lending Policies
CashAdvance.org is dedicated to providing you with updated information about the lending process, so you may borrow funds securely, safely, and make better decisions regarding your finances.
Fair Lending Practices
Our lending policies adhere to the fair lending guidelines presented in the Dodd-Frank Wall Street Reform and Consumer Financial Protection Act (CFPA), which protect consumers from unfair lending practices by lenders. Lenders in our network must follow the regulatory provisions of the Consumer Financial Protection Bureau (CFPB) as well. We recommend that consumers using CashAdvance.org file a complaint with the agency if they have problems in dealing with a specific lender.
CashAdvance.org requires that any lender in our network to provide consumers with a clearly written account of interest rates, fees, rollover changes and any other fees associated with their loan before the consumer signs the loan documents. These practices are mandated by the Truth in Lending Act (TILA) and outlined by the CFPB.
Consumers using CashAdvance.org can be assured that the lenders in our network follow fair debt collection practices during the loan repayment process. The Federal Trade Commission (FTC) Fair Debt Collection Practices Act mandates that lenders not use any of the below tactics:
- Contact consumers via phone before 8am or after 9pm
- Contact consumers via phone with the intent to harass, annoy or using abusive language to belittle or threaten.
- Attempts to collect debt through deception or misrepresentation.
- Threatening legal action when no legal action is allowed.
If a lender violates any of the above FTC provisions regarding fair debt collection, CashAdvance.org will stop conducting business with that lender and report that lenders’ actions to the FTC.
Lenders in our network each have their own policies regarding late payments. These policies are governed by state lending regulations. Please take the time to review the late payment policy written in your loan document before signing the document so you can understand the policy and any potential fees and penalties. If your state law allows it, lenders are often able to offer plans to renew your loan, rollover options, and other ways of extending the re-payment period to help you make payments in full. Using the renewal plans presented to you by your lender should only be done in special circumstances because the costs involved will add to the amount of money you will have to repay.
Each lender in the CashAdvance.org network has its own non-repayment policies. Sometimes lenders may charge more fees or seek criminal charges if a borrower is unable to repay their loan in full. Your lender may below to the Community Financial Services Association of America (CFSA) in which case you are not subject to criminal charges if you do not pay off your loan. All lenders will conduct debt collection in a fair manner in strict adherence to FTC policy. Please note that the fees and penalties charged by lenders are regulated by state by state lending laws.
State by State Regulations
Each lender in the CashAdvance.org network also follow state laws and federal laws pertaining to lending. All lenders within our network charge fees and interest rates that are in accordance with various regulatory measures enacted by state governments. Many states also establish policies for repayment and maximum loan amounts.