Court Shuts Down Payday Lender

RALEIGH — A Wake County court Monday ordered a check-cashing business to quit payday lending and stop taking consumers’ money to repay loans. “Consumers should be able to get short-term loans at reasonable rates, but the rates that Kwik Kash charged its customers were shockingly high," Attorney General Roy Cooper said in a press release. “Kwik Kash charged interest rates far in excess of what the law permits,” Commissioner of Banks Joseph A. Smith, Jr. said. “We will not tolerate companies that flout North Carolina law.”