California probes links between high-cost lenders and consumer sites

Source: James Rufus Koren, L.A.Times (Paid Registration)

California's Department of Business Oversight sent letters to 20 high-interest lenders, asking about their use of so-called lead generators — companies that operate websites connecting consumers to their firms.

The Department's Commissioner Jan Lynn Owen said she wants to make sure lenders and lead generators aren’t pushing customers who want to borrow less money into larger, higher-interest loans. Her office has recently alleged that practice by several lenders.

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