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Tag Archives: All American Check Cashing

Judge lets state agency shut down Mississippi payday lender

A judge says Mississippi regulators can shut down one of the state’s largest payday lenders, prompting an appeal. Hinds County Chancery Judge Dewayne Thomas had temporarily blocked penalties against All American Check Cashing by state banking regulators. But he ruled Tuesday that he wouldn’t reinstate All American’s licenses to cash checks or make small loans while the company fights the ...

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Payday lender pins hopes on Chancery Court to avoid store closings, $1.58 million fine

Banking commissioner rules All American Check Cashing did thousands of illegal loan rollovers By TED CARTER A Hinds County chancery judge on May 12 gave Mississippi payday lender All American Check Cashing a brief reprieve from a state Department of Banking and Consumer Finance shutdown order for its 75 stores, a $1.58 million fine and a demand to pay refunds ...

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MBJ takes 13 MPA awards as Carter wins again for investigative journalism

By ROSS REILY The Mississippi Business Journal won 13 awards, including three first place awards and finished third in General Excellence Saturday at the Mississippi Press Association’s Better Newspaper Contest in Biloxi at the Golden Nugget Hotel and Casino. The MBJ competed in the Weekly Division F category along with other weeklies in the MPA contest. Contest entries were from newspapers in Mississippi for work published in 2015. ...

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Federal watchdog sues All American Check Cashing over ‘deceptive’ tactics

By TED CARTER A U.S. Consumer Financial Protection Bureau investigation of payday lender All American Check Cashing has led to a lawsuit that alleges the company’s stores in Mississippi, Louisiana and Alabama carried out a company-wide policy of deceiving customers who cashed checks or took out payday loans with them. The suit filed May 11 in the U.S. District Court Southern ...

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CFPB sues All American Check Cashing over ‘deceptive’ tactics

By TED CARTER The U.S. Consumer Financial Protection Bureau filed suit Wednesday against payday lender All American Check Cashing that charges the Madison-based company tricked and trapped check-cashing and loan customers at its 43 stores in Mississippi and a handful of other stores in Louisiana and Alabama. The suit seeks monetary relief against All American and owner Michael Gray, injunctive ...

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All American’s lawyers say state ‘thuggery’ behind proposed penalties

By TED CARTER A federal judge has ordered the Mississippi Department of Banking and Finance to hold an administrative hearing for payday lender All American Check Cashing over allegations the lender had a companywide strategy to collect illegal fees from borrowers. The hearing, which could be a prelude to the forced closing of All American’s 43 Mississippi stores and a $3 ...

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Report of Examination gives look inside payday lender’s alleged wrongdoing

  By TED CARTER ted.carter@msbusiness.com Beyond allegedly making illegal payday loan rollovers as a company policy, Madison-based All American Check Cashing deliberately withheld refunds due borrowers, banking regulators say. Like banks and credit card companies, check cashing and payday lending stores must promptly refund overpayments to customers. That didn’t happen at All American, according to a Report of Examination the Mississippi ...

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Federal judge: Let payday lender All American air case

By TED CARTER A federal judge Friday put a speed bump in front of Mississippi banking regulators seeking to shut down payday lender All American Checking Cashing over allegedly collecting illegal fees from borrowers. The Department of Banking and Finance can’t revoke the licenses for All American’s 43 stores and force payment of a $3 million penalty without giving the payday lender ...

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UPDATED: State moves to close down payday lender All American, heavily fine owner

By TED CARTER State banking regulators say they are ready to shut down Madison payday lender All American Check Cashing’s 43 stores and fine owner Michael Gray $3 million for illegal loan rollovers and other offenses. The penalties stem from what the Mississippi Department of Banking and Consumer Finance says are “numerous violations” of both the state’s Check Cashers Act ...

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CFPB investigators enlisting help of former managers of All American Check Cashing stores

By TED CARTER The U.S. Consumer Financial Protection Bureau has extended its investigation of Madison-based All American Check Cashing to include questioning of former managers of the company’s check cashing and payday lending stores. The Bureau had been reported to have sent investigators to Jackson to interview current and former executives of All American Check Cashing. But the Bureau’s interest ...

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