OCC Takes Action Against ACE Money Express, Inc. and Goleta National Bank

OCC Takes Action Against ACE Money Express, Inc. and Goleta National Bank

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WASHINGTON any office of the Comptroller regarding the Currency announced today that ACE money Express, Inc., and Goleta nationwide Bank, Goleta, California, signed cease and desist requests needing them to get rid of unsafe and unsound payday financing tasks also to spend $325,000 in civil cash charges. ACE is just a third-party company for Goleta into the origination, servicing, and assortment of the pay day loans booked because of the lender. ACE provides payday advances on behalf of Goleta in 18 states therefore the District of Columbia.

ACE consented to end payday lending tasks undertaken through Goleta by Jan. 1, 2003, also to spend $250,000 in charges. Read more