Cash Central Financial Services Inc. is a licensed payday lender that operates from 401 Martin St., Penticton. Google Street View.

Penticton payday lender fined

Cash Central Financial Services was fined for violating BC’s consumer protection laws

A Penticton payday lender has been fined $1,500 for violating British Columbia’s consumer protection laws.

Consumer Protection BC has issued a compliance order and administrative penalties totalling $1,500 against Cash Central Financial Services Inc., a licensed payday lender based in Penticton.

Consumer Protection BC is the regulator of a variety of sectors and specific consumer transactions in the province.

The company was fined for both;

  • Failing to state the annual percentage rate on payday loan agreements, contrary to section 112.06 (2)(k) of the Business Practices and Consumer Protection Act (BPCPA)
  • Issuing a new payday loan to a borrower who already has a payday loan issued by the lender, contrary to section 112.08 (1)(b) of the BPCPA

The business has been ordered to comply with the requirements of the BPCPA, and to reimburse Consumer Protection BC partial costs for the inspection in the amount of $650 within 30 days.

By law, the business has 30 days to request a reconsideration of the decision.

All money Consumer Protection BC receives from administrative penalties is deposited into the consumer advancement fund.

For more information on this case, click here.


@carmenweld
carmen.weld@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Just Posted

Late night confrontation between two men in Peachland

RCMP was called to the scene of a physcial encounter on Saturday evening where one man was injured

Human remains found at Silver Creek property

RCMP have been searching the property in the 2200 block of Salmon River Road for the past three days

Your weekend story highlights

Each weekend, we choose top stories from the week for you to enjoy

Chinese pioneers honoured

A sign was unveiled in City Park Saturday to honour the Chinese contributions to Kelowna

Search at Silver Creek property enters third day

A portion of the property has been cordoned off with black landscaping fabric

VIDEO: Sears liquidation sales continue across B.C.

Sales are expected to continue into the New Year

Who is Curtis Sagmoen?

The Observer reveals what we know about the man attached to the Silver Creek property where human remains were found

VIDEO: Oprah Winfrey and a celebrities attend ‘B.C. Miracle Concert’

Fundraiser featured Foster, Steven Tyler, The Tenors, Matteo Bocelli, Laura Bretan, Carly Rae Jepsen

First-place Warriors edge Caps, visit ‘Backs today

West Kelowna scores twice in 25 seconds early in third to overtake Cowichan Valley in BCHL action

Grab a book; thank your librarian

All libraries are cornerstones of their communities and we celebrate them during library month

Five decades of volunteering

Even though she is approaching 70, Merle kindred continues to volunteer around the world

Human remains found at Silver Creek property

RCMP have been searching the property in the 2200 block of Salmon River Road for the past three days

Vehicle leaves scene after striking lamp post

After hitting a lamp post on Springfield Road, a vehicle has left the scene

New B.C. acute care centre opens for young patients, expectant mothers

Facility aims to make B.C. Children’s Hospital visits more comfortable

Most Read