Department of Banking to Host Town Hall Informational Meeting Regarding CashCall, Inc.

The Connecticut Department of Banking will host a Town Hall meeting on Wednesday, May 28, 2014, from 5:30 p.m. to 7:30 p.m. at Kennedy High School, 422 Highland Avenue, in Waterbury.

The Department of Banking recently reached a settlement with CashCall, Inc. and Western Sky Financial, LLC, companies that were found to have charged excessively high interest rates to approximately 3,800 Connecticut residents.  The settlement requires those entities to repay the excess interest paid by borrowers of those loans.

Affected borrowers are currently receiving notice by mail, and a website has been set up at www.CTWesternSkySettlement.com to allow those consumers to file a claim for a refund or modification.

The public meeting will be an opportunity for residents who had taken out loans on or after October 1, 2009 with Western Sky and made payments to CashCall to ask questions about the settlement, and to determine if they may be eligible for a refund.  Department of Banking staff will be available to help borrowers file their claims.

Residents are encouraged to call the Department of Banking, at (800) 831-7225 for further information about the settlement and how to file a claim.