Lending Policy

USACashAdvance.com remains dedicated to working with reputable lenders. In addition, USACashAdvance.com provides information that will assist consumers in making informed, responsible loan decisions.

Fair Lending Laws

There are a number of Fair Lending laws put in place by the federal government to protect borrowers from illicit lending practices. Here are the details on some of the most important:

  • Truth in Lending Act - This Act determines that, before a consumer has assumed any loan obligation, the potential borrower must be presented, in writing, with the full terms of the loan, including exact fees, rates, potential rollover charges, and other relevant details. All lenders associated with USACashAdvance.com adhere to the Truth in Lending Act, so as long as consumers read the documentation they have been presented, there will be no hidden fees or charges.
  • Dodd-Frank Wall Street Reform Act - Enforced by the Consumer Financial Protection Bureau, this act states that all types of lenders must provide “fair, equitable, and nondiscriminatory access to credit for consumers.” Any violation of this act should be reported to the CFPB.
  • Fair Debt Collection Practices Act - The FDCPA is enforced by the Federal Trade Commission. This act prevents lenders from harassing consumers by phone, and from using deceptive or abusive tactics to collect debts. USACashAdvance.com’s trusted network of lenders will not use any of these tactics; should you deal with any lender who does, you should report them to the FTC immediately.

Other Policies

Many other loan policies are regulated by the states, and can differ from lender to lender:

  • State Regulations - State regulations often cover interest rates, whether or not there are rollover limits or fees, what the maximum term for a loan can be, and whether or not there are mandatory cool-off periods between loans and if there are presentment limits.
  • Late Payment Policy - Late payment policies must be present in the pre-loan documentation mandated by the Truth in Lending Act. All lenders must adhere to state regulations on these matters.
  • Non-Payment Policy - Usually, additional fees are added onto loans for non-payment. Please check your lender for full details. USACashAdvance.com endeavors to work with lenders who engage in reputable debt collection practices for non-payment of loans.
  • Loan Renewal Policy - Loan renewal policies are generally also regulated by the states. The major difference between states is whether or not loan rollovers or repayment term extensions are allowed—these can cause substantial dollar amounts to be added to the loan’s end price. These terms should also be present in pre-loan, Truth in Lending-mandated documentation. It is always better to repay your loan in a timely fashion to avoid these additional fees.

Be sure to take a look through all of our educational resources to learn about the loan process and other policies. Make the right decision today.