Payday loan, title loan, personal loan, or advance loan -- Charged fees or interest you didn't expect -- Complaint #20010874
Complaint Overview
Complaint ID: 20010874
Company: Rosebud Economic Development Corporation
Product: Payday loan, title loan, personal loan, or advance loan
Sub-Product: Installment loan
Issue: Charged fees or interest you didn't expect
State: Oregon
ZIP Code: 97301
Date Received: 2025-09-02T12:00:00-05:00
Date Sent to Company: 2026-03-05T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American, Servicemember
Consumer Narrative
I applied online for a personal loan of {$5000.00}. I received notification that I was approved for a loan of {$1000.00}. I accepted without realizing they were going to charge me 560 % interest. Had I known they were charging such an exorbitant rate, I would never have accepted the offer. It was not until I got my bank statement that I realized the exorbitant payment for a loan of only {$1000.00}. I got the number from the bank statement and called it. I received a message stating : XXXX XXXX, you have been approved for a loan of {$63000.00}. Please press the number one on your keypad. I hung up and XXXX " XXXX XXXX XXXX, '' and when I finally found the link to log in, I proceeded to do so. The site then instructed me to create a password and provided a link to do so. Entered the URL, created a password, and was then allowed to enter the site. The site offered several options, and I clicked " View my contract. '' I was dumbfounded to see that I was paying 560 % interest and that my payment would be {$460.00} for 72 months on a {$1000.00} loan. It was at this point that I googled the maximum interest rates allowed in the state of Oregon, which was 36 %. The cite then explained that certain loans made from indians located on federal lands would be exempt from Oregon 's interest caps. I then XXXX for information on filing complaints about exorbitant interest and used your URL to submit this complaint.
Frequently Asked Questions
What is Complaint #20010874 about?
Complaint #20010874 was filed against Rosebud Economic Development Corporation regarding Payday loan, title loan, personal loan, or advance loan specifically about Charged fees or interest you didn't expect. It was received by the CFPB on 2025-09-02T12:00:00-05:00.
How did Rosebud Economic Development Corporation respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Payday loan, title loan, personal loan, or advance loan) and describe your issue in detail.
Can I see other complaints against Rosebud Economic Development Corporation?
Yes, visit the Rosebud Economic Development Corporation company profile at readthecomplaint.com/company/rosebud-economic-development-corporation to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.