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Full and Accurate Disclosure
Cash-X Inc. will fully and completely disclose in writing all the
terms and conditions of granting a loan so that the customer
understands all of the costs of borrowing, including the costs of
borrowing, and costs arising from failure to pay back the loan on
the specified date. Cash-X Inc. will provide each customer with a
copy of every document signed by the customer to obtain the loan.
Promote Consumer Responsibility
Through Education
Cash-X Inc. will take appropriate
steps to inform their customers about the intended use of short-term
loan product. These steps will include advising consumers that a
payday advance is a short-term cash flow tool that is not intended
as a solution for longer term financial needs and informing
customers of the availability of credit counseling services.
Right to Rescind
Cash-X Inc. will offer customers the
right to rescind a small short-term loan transaction at no cost on
or before the close of the following business day.
Advertising Standards
Cash-X Inc. will not advertise and/or
promote the small short-term loan product and service in any false,
misleading or deceptive manner. Cash-X Inc. will follow the
advertising standards established by the association from time to
time and must comply with all State laws governing advertising.
Rollovers
Cash-X Inc. will comply will all
State regulations that restrict or prohibit rollovers, being the
extension of an outstanding loan for a fee. Recognizing that in
spite of their best intentions, some customers are not able to pay
back their loans on the specified date, Cash-X Inc. will not permit
rollovers.
Privacy Protection
Cash-X Inc. will respect and
safeguard personal and confidential information and ensure customer
privacy protection through adherence to the Personal Information and
Protection of Electronic data Act (PIPEDA) and related State privacy
protection laws.
Fair Collection Practices
Cash-X Inc. will collect past due
accounts in a professional, fair and lawful manner, and will comply
with all State regulations governing the collection of debts.
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