Class Action Lawsuit Filed Against QC Holdings Inc.

A class action lawsuit, filed in the Circuit Court of St. Louis County, alleges that QC Financial Services Inc., a subsidiary of Overland Park-based QC Holdings Inc., doing business as Quik Cash, renewed a loan for the plaintiff, Dequae Woods, more than six times at a 469 percent interest rate and by that has violated Missouri laws.

The suit seeks compensatory damages and an injunction prohibiting Quik Cash from engaging in the alleged practices.

The suit also alleges that Quik Cash didn’t evaluate Woods’ ability to repay the loan, charged more than 75 percent of the original loan amount in interest and fees and violated other Missouri payday laws and the state’s Merchandising Practices Act.

Link [www.bizjournals.com/kansascity/stories/2006/11/06/daily45.html?from_rss=1]

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