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Tag Archives: Mississippi Department of Banking and Consumer Finance

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

check cash

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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State awaits response from payday lending firm

The Mississippi Department of Banking and Consumer Finance is awaiting statewide payday lender All American Check Cashing’s response to findings the department made in its investigation of alleged illegal loan rollovers. Stephen Schelver, attorney for the Banking Department, said subjects of department investigations typically reply within 30 to 60 days, though no hard deadline is in place. He said he ...

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Longtime Ms. Banking Commissioner John Allison stepping down

Health concerns faced by John Allison and his wife have led Allison to announce he will leave his post as Mississippi Banking commissioner Sept. 30. His departure marks the end of a four-decade career with the Mississippi Department of Banking and Consumer Finance. He took over the department as interim commissioner in 1996 and served through in that capacity through ...

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