RESPONSIBLE LENDING AND MARKETING

Responsible Lending and Marketing
It is important to OpenCashAdvance.com that you are familiar with the lending process, so you may make more knowledgeable decisions regarding your financial situation. We recommend that you review your particular lender’s policies as each lender can have different interest rates, requirements on repayment, consequences of late or non-payment, etc.. If you have any questions or concerns regarding the details of your loan, please contact your lender.

Fair Lending Practices
Our policies abide by the fair lending guidelines presented in the Dodd-Frank Wall Street Reform and Consumer Financial Protection Act (CFPA), which are meant to protect consumers from lenders who engage in unfair lending practices. Lenders in our network should follow the regulatory provisions of the Consumer Financial Protection Bureau (CFPB) as well. If you have any problems dealing with a particular lender, we encourage you to file a complaint with CFPB.

OpenCashAdvance.com requires lenders in our network to provide consumers with clearly written and identifiable interest rates, fees, rollover changes and any other fees that may be associated with their loan before the consumer signs the loan documents, as is required by the Truth in Lending Act (TILA).

Debt Collection Practices
Lenders in our network should abide by fair debt collection practices. The Federal Trade Commission’s (FTC) Fair Debt Collection Practices Act requires that lenders do not use the following practices:

• Contact consumers via phone before 8:00 am or after 9:00 pm;
• Contact consumers via phone with the intent to harass, annoy or using abusive language to belittle or threaten;
• Attempts to collect debt through deception or misrepresentation; or
• Threatening legal action when no legal action is allowed.

If a lender violates any of the above FTC provisions regarding fair debt collection, OpenCashAdvance.com will discontinue business with that particular lender and report that lenders’ actions to the Online Lenders Alliance (OLA).

Late Payment
It is important to OpenCashAdvance.com that you understand the consequences of making late payments on your loan. Each of our third party lenders has its own policies regarding late payments as governed by state lending regulations. We strongly encourage you to review the late payment policy provided in your loan document before signing the document so you may understand the policy and any potential fees and penalties. Depending on your state’s laws, your lender may be able to offer plans to renew your loan, rollover options, and other ways of extending the re-payment period to help you make payments in full. Please be aware, renewal plans presented to you by your lender should only be undertaken in special circumstances after making all relevant considerations because the costs involved will add to the amount of money you will have to repay.

Non-Repayment
Each of our third party lenders has its own policies regarding non-payment as governed by state lending regulations. OpenCashAdvance.com strongly encourages you to review your particular lender’s policy on non-payment including any fees and penalties you may be subject to for non-payment. Lenders within our network should practice debt collection in a fair manner abiding by FTC policies.

State-Specific Regulations
OpenCashAdvance.com requires that its lenders abide by state and federal laws governing lending. Lenders within our network charge fees and interest rates in accordance with various regulatory measures enacted by state governments. Many states also establish laws governing repayment and maximum loan amounts.

Marketing Practices
By registering for this Site’s services, you are requesting a referral for a loan from a lender within our network of lenders, with whom we may share your information (i.e. first and last name, address, telephone number, banking information, etc.). By registering on our site, you are consenting to receive promotional advertising materials and information about additional services and/or products from our network of lenders and marketing partners through mail, e-mail, and through your mobile phone device. To opt out of receiving such promotional and advertising materials, you may request removal by contacting the third party lender or marketer directly. The Owner/Operator of this Site is not responsible for any promotional and advertising materials sent to you by the lender and has no control over stopping these promotional and advertising materials directed to you.