Consumer complaint received 2025-07-04 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Payday loan
Issue: Struggling to pay your loan — 
Company: CCF Intermediate Holdings LLC
State: WI

Complaint narrative:
On XX/XX/XXXX speedy cash loans attempted to withdraw over {$2000.00} XXXX from my checking account without any authorization or contact since XXXX of XXXX when they refused to adjust my payment dates as they were causing XXXX XXXX XXXX in overdraft fees after I started my new job. They refused to defer payments and I had to block them with my bank. They have sent no mail, email or phone correspondence since XXXX of XXXX when the loan was initiated attached you will see the screen shot of the only emails I have received from them. I requested assistance and they refused until making this unauthorized withdrawal attempt closing down my bank card and putting my bank account which had XXXX XXXX in it on hold. This company has failed to follow the proper guidelines for loans and defaulting a loan. 
In their loan terms they also strip their customers of their rights and to have adjustments made to their loans. 

Licensing and Registration : Loan Company License : Required if your company assesses finance charges exceeding 18 % per year on consumer loans. This is regulated under Wis. Stat. s. 138.09.

Wisconsin Consumer Act ( WCA ) Registration : You'll need to submit a registration form and fee if your application for a loan company license is approved. 
XXXX XXXX XXXX XXXX XXXX XXXX ( XXXX ) : Wisconsin loan companies are required to maintain their licenses on the XXXX. 
Application Process : You can apply for a license through the XXXX website. Information about state licensing requirements and checklists are available there. 
2. Compliance with Wisconsin Laws : Wisconsin Consumer Act ( WCA ) : Your consumer loan agreements must comply with the provisions of the WCA ( Chapters 421 through 427 ) and Section 138.09 of the Wisconsin Statutes. 
Mortgage Lending ( if applicable ) : If involved in mortgage lending, you need to be registered with the state, meet specific educational and testing requirements, and be sponsored by a licensed mortgage banker or broker. 
Residential Mortgage Loan Regulations : Specific regulations apply to residential mortgage loans, including restrictions on prepayment penalties and interest rate adjustments after default. 
Payday Lending ( if applicable ) : Payday lenders must be licensed, adhere to loan amount limits ( {$1500.00} or 35 % of gross monthly income, whichever is less ), and follow specific regulations regarding loan terms, disclosures, and borrower repayment options.

3. Financial and Operational Requirements : Financial Standing : Mortgage bankers may need to demonstrate sufficient funds or file a bond to satisfy claims, with specific requirements for those with or without a bona fide office in Wisconsin. 
Criminal Background Check : Loan originators and mortgage professionals are required to complete a criminal background check as part of the licensing process. 
Record Keeping : Payday lenders must maintain specific books and records, as determined by the Department of Financial Institutions ( DFI ), for at least two years.

Office Location ( for some licenses ) : Mortgage loan originators must be assigned to a licensed or registered office within XXXX miles of their residence. 
4. Additional Considerations : Recent Changes : Recent legislation ( Senate Bill 668 ) has expanded the scope of consumer loan licensing obligations to include parties involved in the purchase or servicing of certain non-mortgage consumer loans. 
Enforcement and Penalties : Failure to comply with regulations can result in license denial, revocation, fines, and even imprisonment.

427.104Prohibited practices.

( 1 ) In attempting to collect an alleged debt arising from a consumer credit transaction or other consumer transaction, including a transaction primarily for an agricultural purpose, where there is an agreement to defer payment, a debt collector may not : ( a ) Use or threaten force or violence to cause physical harm to the customer or the customers dependents or property ; ( b ) Threaten criminal prosecution ; ( c ) Disclose or threaten to disclose information adversely affecting the customers reputation for credit worthiness with knowledge or reason to know that the information is false ; ( d ) Initiate or threaten to initiate communication with the customers employer prior to obtaining final judgment against the customer, except as permitted by statute including specifically s. 422.404, but this paragraph does not prohibit a debt collector from communicating with the customers employer solely to verify employment status or earnings or where an employer has an established debt counseling service or procedure ; ( e ) Disclose or threaten to disclose to a person other than the customer or the customers spouse information affecting the customers reputation, whether or not for credit worthiness, with knowledge or reason to know that the other person does not have a legitimate business need for the information, but this paragraph does not prohibit the disclosure to another person of information permitted to be disclosed to that person by statute ; ( f ) Disclose or threaten to disclose information concerning the existence of a debt known to be reasonably disputed by the customer without disclosing the fact that the customer disputes the debt ; ( g ) Communicate with the customer or a person related to the customer with such frequency or at such unusual hours or in such a manner as can reasonably be expected to threaten or harass the customer ; ( h ) Engage in other conduct which can reasonably be expected to threaten or harass the customer or a person related to the customer ; ( i ) Use obscene or threatening language in communicating with the customer or a person related to the customer ; ( j ) Claim, or attempt or threaten to enforce a right with knowledge or reason to know that the right does not exist ; ( k ) Use a communication which simulates legal or judicial process or which gives the appearance of being authorized, issued or approved by a government, governmental agency or attorney-at-law when it is not ; ( L ) Threaten action against the customer unless like action is taken in regular course or is intended with respect to the particular debt ; or ( m ) Engage in conduct in violation of a rule adopted by the administrator after like conduct has been restrained or enjoined by a court in a civil action by the administrator against any person pursuant to the provisions on injunctions against false, misleading, deceptive or unconscionable agreements or conduct ( ss. 426.109 and 426.110 ). 
( XXXX ) If a debt collector is not otherwise in violation of sub. ( XXXX ) ( j ) with respect to a consumer credit transaction with a debtor, it is not a violation of this section to send a billing statement or other notice of account to, or to collect the amount due on the account from, the spouse of that debtor, if notice to the debtors spouse is provided under s. 766.56.

423.301False, misleading or deceptive advertising. No merchant shall advertise, print, display, publish, distribute or broadcast or cause to be advertised, printed, displayed, published, distributed or broadcast, in any manner any statement or representation with regard to the extension of consumer credit including the rates, terms or conditions for the extension of such credit, which is false, misleading, or deceptive, or which omits to state material information with respect to the extension of credit that is necessary to make the statements therein not false, misleading or deceptive. With respect to matters specifically governed by the federal consumer credit protection act, compliance with such act satisfies the requirements of this section.

History : 1971 c. 239.

423.302Remedies and penalty. In addition to any other remedy provided by law, a customer who has been induced to consummate a consumer credit transaction as a result of advertising in violation of s. 423.301 shall be entitled to a recovery from the merchant in accordance with s. 425.305.

MAXIMUM CHARGES 422.201Finance charge for consumer credit transactions. 
( 1 ) With respect to a consumer credit transaction other than one pursuant to an open-end credit plan, the parties may agree to the payment by the customer of a finance charge not in excess of that permitted by subs. ( 2 ) and ( 3 ). 
( 2 ) ( a ) The finance charge, calculated according to the actuarial method, may not exceed the equivalent of the total of the following for a consumer credit transaction entered into on or after XX/XX/XXXX and prior to XX/XX/XXXX, other than by a federally chartered or state-chartered savings and loan association : XXXX. XXXX percent per year on that part of the unpaid balance of the amount financed which is {$1000.00} or less ; and XXXX. XXXX percent per year on that part of the unpaid balance of the amount financed which is more than {$1000.00}. 
( b ) The finance charge, calculated according to the actuarial method, may not exceed the equivalent of the total of the following for a consumer credit transaction entered into prior to XX/XX/XXXX : XXXX. XXXX percent per year on that part of the unpaid balance of the amount financed which is {$500.00} or less ; and XXXX. XXXX percent per year on that part of the unpaid balance of the amount financed which is more than {$500.00}. 
( bm ) 1. The finance charge, calculated according to the actuarial method, may not exceed the greater of the following for a consumer credit transaction entered into on or after XX/XX/XXXX and before XX/XX/XXXX : a. XXXX percent per year. 
b. A rate of 6 percent in excess of the interest rate applicable to XXXX U.S. treasury bills as determined under subd. 2. 
2. For purposes of subd. 1. b., the interest rate applicable to XXXX U.S. treasury bills for any month is the average annual discount interest rate determined by the last auction of the bills in the preceding month, increased to the next multiple of XXXX percent if the average annual discount interest rate includes a fractional amount. 
XXXX. Information regarding the amount of the maximum finance charge under subd. 1. for any month shall be available at the office of the administrator. 
( XXXX ) A consumer credit transaction entered into after XX/XX/XXXX, is not subject to any maximum limit on finance charges. 
( 3 ) For licensees under s. 138.09 or 138.14 or under ss. 218.0101 to 218.0163, the finance charge, calculated according to those sections, may not exceed the maximums permitted in ss. 138.09, 138.14, and 218.0101 to 218.0163, respectively. 
( 5 ) For the purposes of this section : ( a ) The finance charge may be calculated on the assumption that all scheduled payments will be made when due ; ( b ) The dollar amount of finance charge shall include the prepaid finance charge excluded from the amount financed ; and ( c ) The effect of prepayment is governed by the provisions on rebate upon prepayment under s. 422.209. 
( 6 ) For the purposes of this section, the term of a consumer credit transaction other than one pursuant to an open-end credit plan commences with the date the credit is granted or, if goods are delivered, services performed or proceeds of a loan paid 10 days or more after that date, with the date of commencement of delivery or performance. Differences in lengths of months are disregarded and a day may be counted as one-thirtieth of a month.

( 7 ) Subject to classifications and differentiations the merchant may reasonably establish, the merchant may make the same finance charge on all amounts financed within a specified range. A finance charge so made does not violate sub. ( 2 ) or ( 3 ) as the case may be if : ( a ) When applied to the median amount within each range, it does not exceed the maximum permitted by sub. ( 2 ) or ( 3 ) as the case may be; and ( b ) When applied to the lowest amount within each range, it does not produce a rate of finance charge exceeding the rate calculated according to par. ( a ) by more than 8 percent of the rate calculated according to par. ( a ).

( 8 ) That portion of the finance charge consisting of an amount equal to a discount of 5 percent or less of the stated price which is offered to induce payment in full within a stated period of time in connection with a sale of particular goods and services for which credit is not otherwise available from the merchant shall not be included in the finance charge for the purpose of determining the maximum rate of finance charge under sub. ( 2 ) or ( 3 ) with respect to a customer who does not pay in full within such time.

( 9 ) Notwithstanding sub. ( 2 ) or ( 3 ), a merchant may contract for and receive a minimum finance charge with respect to a transaction other than one pursuant to an open-end credit plan, of not more than {$5.00} when the amount financed does not exceed {$75.00}, or {$7.00} when the amount financed exceeds {$75.00}. 
( 10m ) A finance charge determined by application of a periodic rate shall be determined by applying the periodic rate to one of the following : ( a ) The average daily balance of the account. 
( b ) The unpaid balance of the account on the last day of the billing cycle after first deducting all payments, credits and refunds during the billing cycle. 
( c ) The median amount within a specified range within which the unpaid balance as calculated according to par. ( a ) or ( b ) is included. A charge may be made under this paragraph only if the creditor, subject to classifications and differentiations the creditor may reasonably establish, makes the same charge on all balances within the specified range and if the percentage when applied to the median amount within the range does not exceed the charge resulting from applying that percentage to the lowest amount within the range by more than 8 percent of the charge on the median amount.

( 10s ) Regardless of the date that an open-end credit plan is entered into, the parties may agree to the payment by the customer of a finance charge at any periodic rate. 
( 11 ) Anything to the contrary in this chapter notwithstanding, with respect to consumer credit sales and consumer loans secured by real property and insured or guaranteed by the federal government, or any agency or instrumentality thereof, this chapter shall not prohibit or limit any charges which are required by statutes, rules or regulations of such government, agency or instrumentality. 
( 12m ) This section does not apply to consumer credit sales of or consumer loans secured by a first lien on or equivalent security interest in mobile homes or manufactured homes, as defined in s. 101.91, if the sales or loans are made on or after XX/XX/XXXX. 
( 13 ) A violation of this section is subject to s. 425.305 They have violated WCA the Wisconsin consumer act. They have failed to follow through on any proper debt collection practices as I have no notice to cure in writing or email. I have no records or voicemails of attempted contacts and willfully authorizing a payment without consent. It is being conscionable that a company who doesn't receive a reply to and email or mail wouldn't reach out and contact the customer to attempt to resolve these issues before authorizing a fraudulent charge to a persons account.

Company response to consumer: Closed with explanation