May 28 2003
A settlement has been reached and is pending court approval in the class action lawsuit filed against ACE Cash Express. The suit was in relation to the financial company's former offering of short-term loans from the Goleta National Bank at its stores. Under the terms of settlement, ACE and Goleta will cease all attempts to collect unpaid Goleta loans, and refund any borrower who has repaid their loan in full for a percentage of the finance charges paid by the borrower. (May-13-03)
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