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Settlement with payday loan companies pays $7M to thousands in Calif.

7:15 PM, Aug 21, 2012   |    comments
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SACRAMENTO, CA - The Assembly Speaker and Sacramento Mayor Kevin Johnson announced a program Tuesday to notify people about a $7.5 million settlement with two companies - Money Mart and Loan Mart.

The money will go to Californians who paid excessive interest rates and multiple fees for loans between January 2005 and March 2007.

"People can get dollars back in their pocket, it's going to make a big difference during this time of year," Johnson said.

Throughout California, 10,000 people are eligible to receive settlement money. They could get $2,000 to $1,800.

If you think you are eligible, call 866-497-5497

News10/KXTV

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