Recent enforcement actions details

Case number: 
31740

Business:
Cashco Venue Inc

Does business as:
Venue Financial Centres

Individual First Name:

Individual Last Name:

Attached PDFs: 

• Decision
• Notice of Administrative Penalty
• Compliance Order

Summary:

Allegations and Decision Outcomes
Issuing a new payday loan to borrowers who already had payday loans (BPCPA 112.08(1)) - confirmed
Failing to retain receipts for payday loans for 2 years after the payday loan is repaid (PLR 11) - confirmed
Committing a deceptive act in respect of a consumer transaction by failing to state a loan was a payday loan (BPCPA 5(1)) - dismissed
Failure to comply with an Undertaking (BPCPA 189(5)) - dismissed

Action(s) Taken
Administrative Penalties in the total amount of $8,500
Compliance Order – ordering refunds to some borrowers and partial inspection costs