Recent enforcement actions details

Case number: 
31373

Business:
Direct Credit BC Inc.

Does business as:
310 Loan

Individual First Name:

Individual Last Name:

Attached PDFs: 

Summary:

Contraventions and Outcomes

• Failing to require borrowers initial required terms and disclosure statements that relate to cost of credit, APR, and borrower rights of cancellation for each payday loan agreement executed with 310 Loan, – 6 proven contraventions of BPCPA section 112.06(4)(b)

Actions Taken

• By June 15, 2022 provide Consumer Protection with a sample loan agreement the Respondent intends on using when entering payday loan agreements with borrowers that demonstrates to the satisfaction of Consumer Protection BC the method to be used by the Respondent to record the initial requirements.
• To demonstrate the Respondent is using the loan agreements deemed satisfactory by Consumer Protection BC when entering payday loans with borrowers, provide Consumer Protection BC with copies of ten (10) payday loan agreements executed with borrowers after June 23, 2022.
• Reimburse Consumer Protection BC the cost of the inspection in the amount of $695.00.