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Tag Archives: check cashing

Federal regulators propose restrictions on payday lenders

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Federal regulators are proposing a significant clampdown on payday lenders and other providers of high-interest loans, saying borrowers need to be protected from practices that wind up turning into “debt traps” for many. The Consumer Financial Protection Bureau’s proposed regulations, announced Thursday, seek to tackle two common complaints about the payday lending industry. The CFPB is proposing that lenders must ...

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CFPB sues All American Check Cashing over ‘deceptive’ tactics

All American Check Cashing location in Ridgeland.

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 staving off shutdown, fine through legal appeals

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By TED CARTER The U.S. Court of Appeals for the Fifth Circuit is the next stop in embattled All American Check Cashing’s fight to keep its 43 Mississippi payday lending stores open and avoid paying a $3 million fine. The Madison-based check casher and payday lender is the first low-dollar, short-term lender charged with running afoul of the state’s law against ...

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All American buys more stores, enters Alabama market

MADISON — All American Check Cashing has expanded its payday and title loan services into Alabama with the acquisition and purchase of five retail stores. Terms were not disclosed. The retail stores located in Bessemer, Clanton, Millbrook, Prattville and Selma, Ala., will bring the total of All American’s stores to 50. All retail stores acquired in the acquisition will offer ...

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All-American opens new store in South Mississippi

MADISON and COLLINS — All American Check Cashing has opened a new retail store in Collins. It offers local customers both payday and title loan products. “The Collins location will increase our presence in Mississippi and expand our customer base in southern Mississippi,” said Michael Gray, president of All American Check Cashing. “With locations in Magee and Hattiesburg, the Collins ...

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All American buys Check Express for undisclosed sum

MADISON and BROOKHAVEN — All American Check Cashing has completed the acquisition of Check Express of Brookhaven. Terms were not disclosed. This marks the fourth acquisition for All American this year, including the May 2013 acquisition of Cash Cure of Brookhaven. Michael Gray, president of All American Check Cashing, said, “We are still are still aggressively expand our payday and ...

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Check-cashing firm buys 10 more stores across Miss.

MADISON — All American Check Cashing announced today the completion of the acquisition of 10 payday loan retail stores today throughout Mississippi. Terms were not disclosed. This marks the second merger and acquisition for All American this year and increases the total number of retail stores in Mississippi and Louisiana to 44.  The payday loan retail stores were located in ...

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State House passes payday-lending bill despite objections

JACKSON — The Mississippi House has voted to let payday lending businesses keep operating in the state beyond 2015, despite objections by some lawmakers that the shops congregate in poor neighborhoods and take advantage of people who might not be financially savvy. Supporters say the businesses provide easy access to cash for people who might not be able to get ...

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All American closes on another acquisition

MADISON — All American Check Cashing has completed the acquisition of Payday Solutions, LLC, of Denham Springs, La. Terms were not disclosed. This marks the fifth merger and acquisition for All American this year and increases the total number of retail stores in Mississippi and Louisiana from 32 at the beginning of 2012 to 41. Michael Gray, president of All ...

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All American closes on another acquisition in Louisiana

MADISON — All American Check Cashing has completed the acquisition of Community Financial Center of America, of Houma, La. Terms were not disclosed. This marks the fourth merger and acquisition for All American this year and increases the total number of retail stores in Mississippi and Louisiana to 40. Michael Gray, president of All American Check Cashing, said, “This acquisition ...

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