Despite the setbacks, though, the 63-year-old Reddam has found a way to remain a player in the high-interest lending business. ADVERTISEMENTNow, CashCall has stopped making consumer loans altogether, according to customer service representatives who recently referred Times reporters asking about a loan to LoanMe. In 2013, the year the CFPB sued, CashCall issued about $116 million in loans with triple-digit interest rates in California alone. Until recently, the companies advertised exactly the same loan sizes, interest rates, terms and payments in the states where they both did business. Despite the connections to Reddam, LoanMe has avoided some of the regulatory scrutiny that has dogged CashCall.

Source: Los Angeles Times September 02, 2018 14:48 UTC