Did You Take Out a Pay Day Loan?

October 11, 2013

Important Information

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At A Glance

This Alert Affects
Consumers who borrowed a so-called deposit advance loan from the Bank of Oklahoma or its affiliates (listed below). This product may have been marketed under the name "FastLoan."
Damages
Overdraft charges, the need for additional loans, other financial losses.
Company(ies)
Bank of Oklahoma or its affiliates, which include Bank of Albuquerque, Bank of Arizona, Bank of Arkansas, Bank of Kansas City, Bank of Texas, and Colorado State Bank and Trust.
Additional Details
Also known as a payday advance, a payday loan is a small, short-term loan intended to cover the borrower's expenses until his or her next paycheck or deposit of public benefits.