Responsible Lending Policy
GreenStarCash is not a lending service, nor do we endorse or represent any of the lenders in our network. Instead, we work to provide borrowers with easy access to a network of reputable, reliable, and law-abiding lenders who can offer services that match the needs expressed by the applicant on our online form.
GreenStarCash makes it top priority to ensure that the lenders in our network follow laws at the local, state, and federal level. Additionally, we make it our mission to only work with lenders who provide unbiased and responsible lending services and follow the industry’s best practices.
We know that the laws and regulations of the short-term loan industry can be perplexing. That is why we provide you with appropriate information and educational materials to answer all your questions about short-term lending in the US.
In the following section, we will provide you with the basic information regarding major lending laws and acts that help protect consumers from biased lending practices. You will greatly benefit from reading this information and referencing our FAQ and Rates and Fees pages for more details on making the best lending-product decisions.
Fair Debt Collection Practices Act
GreenStarCash is extremely adamant that our lenders must follow all guidelines put in place by the Fair Debt Collection Practices Act. Since we are not a lender, we will never attempt to collect a debt from you. However, the lender that provides your loan has the right to use any lawful means available under the law to collect on a debt if your loan goes unpaid. These attempts will be guided by the aforementioned Fair Debt Collections Practices Act. Under these guidelines, the following actions would be considered violations:
- Attempting to contact debt holders before 9 a.m. or after 8 p.m. in the debtor’s local time zone
- Using deceptive claims, false information, or misrepresentation of a company in an attempt to collect a debt
- Using vulgar, harmful, oppressive, threatening, or harassing language/tactics while trying to collect a debt
- Using the threat of unwarranted criminal charges or legal action to collect a debt
Lenders within our network found to be in violation of these guidelines are to be immediately removed from our network and reported to law enforcement.
Fair Lending Act
The Fair Lending Act is intended to ensure that all loan service consumers are met with equal access to credit services no matter their age, race, gender, or any other non-financial factor. The Fair Lending Act keeps lenders from discriminating against consumers and threatens them with legal reprimand for such disciminitation. Consumers must still meet the basic requirements as set by local, state, and federal law. If you believe you have been the victim of lending discrimation, reach out to the Equal Opportunity and Fair Lending Office of your local Consumer Financial Protection Bureau.
Truth in Lending Act
This act was created to guarantee that consumers have access to all information, in writing, regarding any offers of credit made available to them before they sign any contracts, make decisions on extending credit, or take on any legal responsibilities regarding lending services. Lenders must disclose all information about rates, interest, fees, and loan terms before they can provide credit to a consumer. These regulations are also dictated at the state and local level, so lenders must also follow those guidelines as well.
Most states implement their own regulations on the lending industry, especially the short-term lending industry. These regulations are intended to protect consumers and cover things like maximum loan amounts, renewal guidelines, fees, and interest rates. This information regarding state-level regulations can be found in the Rates and Fees section of our website. There, you can find links to government websites that provide detailed regulatory information based on your state.