Online Payday Lender Western Sky To Stop Funding Loans Sept. 3

[Courtesy Flush]

http://consumerist.com/2013/08/27/online-payday-lender-western-sky-to-stop-funding-loans-sept-3/

If you’ve watched daytime TV in recent years, you’ve more than likely seen ads for Western Sky Financial a payday lender operating out of a tribal reservation in South Dakota. Facing lawsuits from around the country and increased scrutiny from regulators over triple-digit interest rates for its short-term loans, the company has announced it will stop funding new loans on Sept. 3.

This news came out last night after Western Sky posted a declaration on its website that it will cease funding loans starting next week.

[liberal N proud]

1. The sky is fallling

Western sky that is!

[leeroysphitz]

2. Problem solved. n/t

[Bay Boy]

3. Thank goodness these bottom feeders

have been stopped.