Community Choice Financial Inc. operates 430 stores in 14 states under the names CheckSmart and California Check Cashing Stores.
The company issues unsecured payday loans of up to $1,000, typically charging $8 to $15 per $100 borrowed in addition to interest. Interest rates vary by state but generally exceed 395% APR.
The Better Business Bureau has listed a warning of government action against the parent company in January 2019.
After Ohio passed a law in September 2019 which restricted how these types of financial companies can operate, CheckSmart said that it would no longer provide payday loans in Ohio. The company does still offer these loans in other states, however.
Community Choice Financial Inc. is the parent company of CheckSmart, and it issues title loans and prepaid MasterCard debit cards as well as offers check cashing services, money transfers, bill payments, and money orders.
Community Choice Financial Inc. operates 430 stores in 14 states under the names CheckSmart and California Check Cashing Stores.
History
The company issues unsecured payday loans of up to $1,000, typically charging $8 to $15 per $100 borrowed in addition to interest. Interest rates vary by state but generally exceed 395% APR.
The Better Business Bureau has listed a warning of government action against the parent company in January 2019.
After Ohio passed a law in September 2019 which restricted how these types of financial companies can operate, CheckSmart said that it would no longer provide payday loans in Ohio. The company does still offer these loans in other states, however.
Community Choice Financial Inc. is the parent company of CheckSmart, and it issues title loans and prepaid MasterCard debit cards as well as offers check cashing services, money transfers, bill payments, and money orders.