OKLAHOMA CITY - CashCall refunds are still on the way.
Rubin Tornini and the Oklahoma Department of Consumer Credit have been busy verifying information, finally rolling out their refund program, in hopes of getting in touch with Oklahoma consumers owed financial relief.
“People saw the commercials late night TV, promising a lot of money overnight in your account,” he said.
People in need, like Wanda Jones, got on their computer and got a loan without realizing what it was going to cost them.
By the time Wanda took action she had already paid online lender, CashCall, $1800 dollars on an $800 dollar loan and she didn't even get her loan through CashCall.
“They told me they had purchased my account from Western Sky and I would be making payments to them instead,” Wanda said.
The In Your Corner bottom line:
- Tribes don't have to follow state or federal rules and can charge excessive interest rates.
- CashCall on the other hand cannot and is accused of letting Western Sky create loans, so they can purchase them and cash in on the excessive interest rates.
“That was a mistake,” Tornini said. “CashCall we do have jurisdiction over.
The agreement gives the state one million dollars to distribute to customers.
That money is already in the state's account, but Tornini tells the In Your Corner team the refunds checks are still months away from going out.
You have until March 31st of next year to register over the phone or online with the Oklahoma Department of Consumer Credit.