Getting your player ready...
Colorado Attorney General John Suthers on Tuesday announced a settlement with a small-installment lender, Security Finance, that will require the company to refund certain fees it charged consumers starting in 2004.
According to the complaint, Security Finance allegedly refinanced its consumers’ small-installment loans to maximize the number and amount of acquisition fees it could charge its customers.
Security Finance agreed to refund the acquisition fees it charged customers in excess of the three in a year allowed by Colorado law. Security Finance and its parent, Security Finance Corp., decided to close their Colorado operations.
