Payday lender ordered to refund BC consumers

After an investigation, Consumer Protection BC has determined that The Cash Store and Instaloans, are in violation of British Columbia’s payday lending regulations and are being ordered to pay a monetary penalty as well as refund consumers for unlawful fees on their loans. The Cash Store has been issued a Compliance Order requiring them to pay $25,000 in penalties, reimburse Consumer Protection BC for our investigation costs and provide restitution to consumers who were charged unlawful fees on their loans.