Cash Central Financial Services Inc. is a licensed payday lender that operates from 401 Martin St., Penticton. Google Street View.

Penticton payday lender fined

Cash Central Financial Services was fined for violating BC’s consumer protection laws

A Penticton payday lender has been fined $1,500 for violating British Columbia’s consumer protection laws.

Consumer Protection BC has issued a compliance order and administrative penalties totalling $1,500 against Cash Central Financial Services Inc., a licensed payday lender based in Penticton.

Consumer Protection BC is the regulator of a variety of sectors and specific consumer transactions in the province.

The company was fined for both;

  • Failing to state the annual percentage rate on payday loan agreements, contrary to section 112.06 (2)(k) of the Business Practices and Consumer Protection Act (BPCPA)
  • Issuing a new payday loan to a borrower who already has a payday loan issued by the lender, contrary to section 112.08 (1)(b) of the BPCPA

The business has been ordered to comply with the requirements of the BPCPA, and to reimburse Consumer Protection BC partial costs for the inspection in the amount of $650 within 30 days.

By law, the business has 30 days to request a reconsideration of the decision.

All money Consumer Protection BC receives from administrative penalties is deposited into the consumer advancement fund.

For more information on this case, click here.


@carmenweld
carmen.weld@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Just Posted

Start a new family Christmas tradition this Sunday in Princeton

Dramatic reading of A Christmas Carol takes place tomorrow

Video: Update one man arrested in Okanagan Falls

The RCMP has requested the school go into lockdown

Okanagan’s first Christmas was cold and bleak

Father Pandosy and his crew likely spent their first Christmas cold and hungry

Holiday Train rolls through the Shuswap

Hundreds of people have gathered in Sicamous, Canoe and Salmon Arm for… Continue reading

Kamloops RCMP warning public to stay away from unfolding domestic dispute

The public is being asked to avoid Sabiston Creek Road off of the highway

Owl found dead after eating rat poison leaves B.C. woman concerned

After finding the owl on her Surrey property, Christine Trozzo says the poison is a concern for kids

Change to CPP death benefit panned as insufficient to cover funeral costs

Funeral Services Association of Canada lobbied governments to raise the value to $3,580

#MeToo at work: Employers play a role in fixing culture of sexual harassment

B.C. workplaces are getting ahead of being the next MeToo debacle, calling on experts to train staff

Column: Make it a green Christmas

Instead of purchasing a cuddly stuffie this year, put your money towards helping the real thing.

B.C. woman brain injured in crash as a baby gets $1.1 million in damages

Trial heard the woman was 16 months old, being carried by her mother when they were both hit

What’s happening

Find out about the events happening in your community this weekend

Interior Health holding immunization clinic in Vernon Saturday

IH issues list of Okanagan meningococcal immunization clinics

Most Read