Payday Lending
Consumer Protection BC takes over Cash Store refund process; consumers now receiving cheques
{Aug. 26, 2014} VICTORIA, BC – About 5,000 payday lending customers have just received refunds for fees illegally charged by The Cash Store and Instaloans, but Consumer Protection BC says an estimated 45,000 consumers still haven’t come forward to make a claim.
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Cash Store Financial Refund Process Begins

{March 6, 2014} VICTORIA, BC – Consumer Protection BC announces that Cash Store Financial Inc. has begun the refund process for eligible payday lending consumers.

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Supreme Court of BC confirms Cash Store must refund $1 million to consumers

{January 31, 2014} VICTORIA, BC – The Supreme Court of British Columbia has upheld Consumer Protection BC’s Compliance Orders against Cash Store Financial Inc. requiring the company to comply with the law and refund over $1 million to consumers.  

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Consumer Protection BC orders The Money Stop to cease unlicensed payday lending activity and to refund consumers

{July 24, 2013} VICTORIA, BC – Consumer Protection BC has issued a compliance order and administrative penalty against Money Stop Ltd. (doing business as The Money Stop) for violating BC’s payday lending laws.

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On or offline, payday lenders must be licensed says Consumer Protection BC

With increasingly more consumer purchasing financial products online, Consumer Protection BC is reminding BC consumers that payday lending is an industry regulated both on and offline.

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Consumer Protection BC enforcement actions sends strong message to all BC payday lenders to comply with law
{June 20, 2013} VICTORIA, BC – Consumer Protection BC has issued Compliance Orders and Administrative Penalties against BC payday lenders Loan Express Corp., Cash Store Financial Inc. and Justenna Enterprises Inc. (doing business as Money Mart Whistler) for violating BC’s payday lending laws.

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Court orders Cash Store to secure $1,059,828 for potential consumer refunds, pending judicial review
{February 7, 2013} VICTORIA, BC – In December 2012 Consumer Protection BC announced that The Cash Store Financial Services Inc. (“Cash Store”) had petitioned the BC Supreme Court for a judicial review of the determinations issued by Consumer Protection BC on March 23, 2012 (Compliance Order) and Nov. 30, 2012 (Supplemental Compliance Order). For more information, please read December’s release.
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Cash Store Financial Petitions For Judicial Review

{December 21, 2012} Further to determinations issued by Consumer Protection BC on March 23, 2012 (Compliance Order) and November 30, 2012 (Supplemental Compliance Order) ordering The Cash Store Financial Services Inc. (“Cash Store”) to refund unlawful fees charged to customers in relation to cash cards, Cash Store has petitioned the Supreme Court of British Columbia for a judicial review of these orders pursuant to the Judicial Review Procedure Act. The petition seeks a review of many central elements of Consumer Protection BC’s March 23, 2012 order, as well as one term of the November 30, 2012 order requiring that monies not refunded to consumers after a period of time be paid to the Consumer Advancement Fund. Cash Store has also sought a stay of execution of these orders pending determination of the petition for judicial review by the court.

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Payday Lending Consumers To Start Getting Over $1Million in Refunds

MEDIA RELEASE
FOR IMMEDIATE RELEASE

{December 10, 2012} VICTORIA, BC – British Columbians who were overcharged for payday loans from The Cash Store or Instaloans are eligible for refunds estimated to total approximately $1 million. In March, 2012, Consumer Protection BC ordered the parent company, Cash Store Financial Inc., to stop charging illegal fees and repay customers who were overcharged. As a result of a Supplemental Compliance Order issued on November 30, 2012, the refund process is now scheduled to begin on December 11th 2012. The refund process will be overseen by an independent auditor and Consumer Protection BC. Following from this process, it’s expected that all illegally-charged funds could begin to be refunded as soon as February 2013.

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Cash Store Financial Inc. Refunds Update

VICTORIA, BC – On March 23, 2012 Consumer Protection BC ordered Cash Store Financial Inc., more commonly known as The Cash Store or Instaloans, to comply with the law and refund unlawful cash card fees charged to their customers since late 2009. Consumer Protection BC is committed to ensuring that all eligible consumers receive complete and accurate refunds from Cash Store Financial Inc.

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Consumer Protection BC Uncovers New Violations By Cash Store Financial

(June 20, 2012) VICTORIA, BC – Consumer Protection BC has identified 3 new contraventions where Cash Store Financial Inc. has violated BC’s payday lending laws. Cash Store Financial Inc. is a Canadian payday lender, more commonly known as The Cash Store or Instaloans.

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Payday Lending Consumers Are To Receive Refunds says Consumer Protection BC

(May 29, 2012) VICTORIA, BC – Consumer Protection BC is reminding payday lending consumers that they may be eligible for refunds from Cash Store Financial Inc., more commonly known as The Cash Store or Instaloans. Consumers are encouraged to complete Consumer Protection BC’s online refund tracking form.

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Cash Store Fails to Comply With Ruling From Consumer Protection BC
(May 3, 2012) VICTORIA, BC – Consumer Protection BC has filed a Notice of Penalty and Compliance Order with The Supreme Court of British Columbia after Cash Store Financial Inc., a Canadian payday lender more commonly known as The Cash Store or Instaloans, failed to meet requirements laid out in their March 23, 2012 compliance order and notice of administrative penalty.
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Cash Store Ordered to Refund Consumers Back to 2009

MEDIA RELEASE
FOR IMMEDIATE RELEASE

{March 27, 2012} VICTORIA, BC - Consumer Protection BC has ordered Cash Store Financial Inc., a Canadian payday lender, more commonly known as The Cash Store or Instaloans, to comply with the law and refund unlawful fees charged to their customers since late 2009.
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Consumer Protection BC Warns Payday Lending Consumers
{February 24, 2012} VICTORIA, BC - Consumer Protection BC is alerting consumers that NCA National Cash Advance (Canada) ULC, a payday lender, will be closing its offices by the end of the day today. National Cash Advance has six offices in Abbotsford, Burnaby, Maple Ridge, Mission and Surrey.
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