A-1 Premium Budget, Inc(also known as “Cash in a Wink”), a Delaware company that provides short-term, high-interest internet loans, will pay over $6,600 to twelve Vermont consumers and pay the State of Vermont $10,000 to settle claims that the company violated Vermont consumer protection and lending laws. Attorney General William H. Sorrell noted that this is the fifth settlement in a recent effort to protect Vermonters from predatory lending: “Any lender, large or small, that ignores our state lending and consumer protection laws runs the risk of enforcement by my Office.” More information on the Attorney General’s crackdown on illegal lending can be foundhere.
Under the terms of thesettlement, Cash in a Wink will, among other terms: (1) refund all interest and fees collected from Vermont consumers for a total of $6,641 paid to 12 consumers; (2) pay $10,000 in civil penalties and costs to the State; and (3) cancel all outstanding debts of Vermont consumers, whether current or delinquent. Cash in a Wink has stated that, as of January 2012, it has ceased lending to Vermont consumers.
Consumers who have obtained loans from lenders who are notlisted as licensedwith the Vermont Department of Financial Regulation canfile a complaintwith the Attorney General’s Consumer Assistance Program, or mail a complaint to “Consumer Assistance Program,” 146 University Place, Burlington, VT 05405.
Vermont AG: Dec 4, 2014