Consumer complaint received 2017-08-28
Company: Mobiloans, LLC
State: NJ
Product: Payday loan, title loan, or personal loan
Sub-product: Payday loan
Issue: Charged fees or interest you didn't expect

Complaint:
On XX/XX/XXXX, XXXXXXXX XXXX of Louisiana d/b/a MobiLoans d/b/aMobiLoans, LLC ( MobiLoans ), deposited {$320.00} in to my XXXX XXXX XXXX bank account in response to a loan application I completed. I was assigned an account number of XXXX. I request 4 additional withdrawals, show in the chart below, totaling {$1800.00}. XXXX has withdrawn XXXX since the account was created. 
I have since learned that the loan provided is illegal under New Jersey State and United States Federal Law. More specifically, this loan is in violation of N.J. Stat. Ann. 17:15A-47 which states A check cashing licensee can not cash or advance money on a postdated check. Furthermore, the loan is well above the 30 %, annual usury cap and is in violation of New Jersey Criminal Law, specifically N.J. Stat. Ann. 2C : 21-19, 17:11C-36 ( a ). I  have satisfied well over the principal borrowed ( {$1800.00} ). The loan contract is invalid. I demand that you mark my account as Paid in Full immediately, respond to this e-mail noting that my account is Paid in Full and immediately cease any further withdrawal activity. The loan and withdrawal activity is illegal and I will pursue further action if XXXX XXXX of Louisiana d/b/a MobiLoans d/b/aMobiLoans, LLC continues to fraudulently obtain funds from my XXXX XXXX XXXX checking account that is linked to account XXXX. I reserve the right to pursue damages caused by excessive interest rates that are illegal in the State of New Jersey. If the activity does not cease within 24 hours, I will seek the covenant of the Consumer Financial Protection Bureau. I have attached XXXX XXXX 's opinion from the United States Court Of Appeals For The Ninth Circuit that reinforces that companies such as yourselves are not immune to Federal and State Law. 

Further action will not be limited to : Complaints filed with the Better Business Bureau, Consumer Financial Protection Bureau, state consumers bureaus, potential class action administration and legal action. Your company is already under investigation with the Consumer Financial Protection Bureau. 

Payments to XXXX XXXX of Louisiana d/b/a MobiLoans d/b/aMobiLoans, LLC ( MobiLoans ) by  XXXX XXXX [ NAME REDACTED ] : XX/XX/XXXX MOBILOANS LLC DES : DEBIT XXXX INDN : XXXX, XXXX CO ID : XXXX WEB XXXX XX/XX/XXXX MOBILOANS LLC DES : DEBIT XXXX INDN : XXXX, XXXX CO ID XXXX XXXX WEB XXXX XX/XX/XXXX MOBILOANS LLC DES : DEBIT XXXX INDN : XXXX, XXXX CO ID XXXX XXXX WEB XXXX XX/XX/XXXX MOBILOANS LLC DES : DEBIT XXXX INDN : XXXX, XXXX CO ID : XXXX XXXX XXXX XX/XX/XXXX MOBILOANS LLC DES : DEBIT XXXX INDN : XXXX, XXXX CO ID : XXXX XXXX XXXX XX/XX/XXXX MOBILOANS LLC DES : XXXX XXXX XXXX : XXXX, XXXX CO ID : XXXX WEB XXXX XX/XX/XXXX MOBILOANS LLC DES : DEBIT XXXX INDN : XXXX, XXXX CO ID : XXXX WEB XXXXXX/XX/XXXX MOBILOANS LLC DES : DEBIT XXXX INDN : XXXX, XXXX CO ID : XXXX WEB XXXXXX/XX/XXXX MOBILOANS LLC DES : DEBIT XXXX INDN : XXXX, XXXX CO ID : XXXX WEB XXXXXX/XX/XXXX MOBILOANS LLC DES : DEBIT XXXX INDN : XXXX, XXXX CO ID : XXXX WEB XXXXXX/XX/XXXX MOBILOANS LLC DES XXXX DEBIT XXXX INDN : XXXX, XXXX CO ID : XXXX WEB XXXXXX/XX/XXXX MOBILOANS LLC DES XXXX XXXX XXXX INDN : XXXX, XXXX CO ID : XXXX WEB XXXXXX/XX/XXXX MOBILOANS LLC DES : XXXX XXXX XXXX : XXXX, XXXX CO ID : XXXX WEB XXXXXX/XX/XXXX MOBILOANS LLC DES : DEBIT XXXX XXXX : XXXX, XXXX CO ID : XXXX WEB XXXXXX/XX/XXXX MOBILOANS LLC DES : DEBIT XXXX XXXX XXXX XXXX, XXXX CO ID : XXXX WEB XXXXXX/XX/XXXX MOBILOANS LLC DES : DEBIT XXXX INDN XXXX XXXX XXXX CO ID : XXXX WEB XXXX XX/XX/XXXX MOBILOANS LLC DES : DEBIT XXXX INDN XXXX XXXX XXXX CO ID : XXXX WEB XXXX XX/XX/XXXX MOBILOANS LLC DES : CREDIT XXXX INDN : XXXX XXXX CO ID : XXXX PPD XXXX XX/XX/XXXX MOBILOANS LLC DES : DEBIT XXXX INDN : XXXX XXXX CO ID : XXXX WEB XXXX XX/XX/XXXX MOBILOANS LLC DES : DEBIT XXXX INDN : XXXX XXXX CO ID XXXX XXXX WEB XXXX XX/XX/XXXXMOBILOANS LLC DES : DEBIT XXXX INDN : XXXX XXXX CO ID : XXXX WEB XXXX XX/XX/XXXX MOBILOANS LLC DES : DEBIT XXXX INDN : XXXX XXXX CO ID XXXX XXXX XXXX XXXX XX/XX/XXXX MOBILOANS LLC DES : DEBIT XXXX INDN : XXXX XXXX CO ID : XXXX WEB XXXX Bank Account Credit History : XXXX/XXXX/XXXX MOBILOANS LLC DES : CREDIT IDXXXX XXXX : XXXX XXXX XXXX CO ID : XXXX PPD XXXX XX/XX/XXXX MOBILOANS LLC DES : CREDIT IDXXXX XXXX : XXXX, XXXX CO ID : XXXX PPD XXXX XX/XX/XXXX MOBILOANS LLC DES : CREDIT IDXXXX XXXX : XXXX, XXXX CO ID : XXXX PPD XXXX XX/XX/XXXX MOBILOANS LLC DES : CREDIT IDXXXX XXXX : XXXX, XXXX CO ID : XXXX PPD XXXX XX/XX/XXXX MOBILOANS LLC DES : CREDIT IDXXXX XXXX : XXXX, XXXX CO ID : XXXX PPD XXXX

Company response to consumer: Untimely response