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Online Payday Lender Western Sky To Stop Funding Loans Sept. 3
http://consumerist.com/2013/08/27/online-payday-lender-western-sky-to-stop-funding-loans-sept-3/
If you’ve watched daytime TV in recent years, you’ve more than likely seen ads for Western Sky Financial a payday lender operating out of a tribal reservation in South Dakota. Facing lawsuits from around the country and increased scrutiny from regulators over triple-digit interest rates for its short-term loans, the company has announced it will stop funding new loans on Sept. 3.
This news came out last night after Western Sky posted a declaration on its website that it will cease funding loans starting next week.
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