California Deferred Deposit Transaction Notice
In this California Deferred Deposit Transaction Customer Notice (“Notice”), the words “you,” “your,” and “I” mean the recipient who electronically signs it. The words “we”, “us” and “our” mean MMRR Finance Corp, d/b/a Cash Loans Direct. Before entering into a deferred deposit advance transaction, we are required by Section 23035(c) of the California Financial Code to provide you, the borrower, a clearly written statement disclosing the following items:
- You will be charged $15.00 for each $100.00 of an advance. The total amount of a loan, including fees, may not exceed $300.
- We may charge you a returned instrument fee of $15 if your payment is returned unpaid.
- Criminal action may not be threatened or brought against you for a returned check in connection with this advance or for failure to pay this advance.
- You may contact the California Department of Business Oversight Financial Services Division at 1-866-275-2677 to discuss any complaint or concern regarding deferred deposit licensees.
- We may not accept collateral or services for an advance.
- The deferred deposit transaction is made pursuant to Section 23035 of the California Financial Code and is therefore not subject to Secton 1719 of the California Civil Code or any of the damages allowed thereunder. Therefore, you cannot be required to pay treble damages if the loan payment does not clear.