Cash Store accused of violating B.C. payday lending laws

Consumer Protection BC says Cash Store Financial Inc. has been ordered to pay $6,200 in administrative penalties for violating the province's payday lending laws.

The not-for-profit organization, created by the provincial government to administer B.C.'s consumer protection laws, said Wednesday that it has found 30 violations involving three separate regulations.

Edmonton-based Cash Store Financial Inc., a short-term lender operating under The Cash Store and Instaloans banners, has 30 days to appeal the decision.

The allegations include failing to include licence numbers in representation and visual advertisements; failing to include the expiry dates for issued cash cards in loan agreements and requesting or requiring a payment from a borrower before it is due under the loan agreement

"We are committed to enforcing the law and ensuring that consumers are aware of their rights," said Manjit Bains, vice-president of corporate relations for Consumer Protection BC.