Western Sky Financial Sued for Charging Interest Rates as High as 355percent

Western Sky Financial Sued for Charging Interest Rates as High as 355percent

Western Sky Financial, a South-Dakota-based online loan provider that’s become infamous for the sky-high rates of interest, is finally being sued.

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Nyc State Attorney General Eric T. Schneiderman announced that his office has filed a lawsuit against Western Sky for charging rates that far exceed what is permissible under New York law tuesday. Based on the Schneiderman loan providers maybe maybe not licensed by their state of the latest York can not charge an yearly interest higher than 16 %.More