Payday loan, title loan, personal loan, or advance loan -- Charged fees or interest you didn't expect -- Complaint #20012986
Complaint Overview
Complaint ID: 20012986
Company: Rosebud Economic Development Corporation
Product: Payday loan, title loan, personal loan, or advance loan
Sub-Product: Payday loan
Issue: Charged fees or interest you didn't expect
State: Georgia
ZIP Code: 30291
Date Received: 2025-10-16T12:00:00-05:00
Date Sent to Company: 2026-03-05T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: No
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I am a Georgia resident. On XX/XX/year>, I applied online for a loan from Willow Lake Lending, located in South Dakota. I borrowed {$1200.00}. At the time of application, I was not provided with the loan terms or conditions before the funds were disbursed into my account, I never received the terms until I called and spoke with a representative. It was discovered that the loan carried an Annual Percentage Rate ( APR ) of 653.25 %, with 20 biweekly payments of {$320.00}, totaling {$6500.00} to repay a {$1200.00} loan. This loan terms are a violation of Georgia Law. Under the Georgia Installment Loan Act ( O.C.G.A. 7-3-11 ), loans of {$3000.00} or less are capped at 10 % annual interest. A 653.25 % APR on a {$1200.00} loan is more than 65 times the legal limit and clearly unlawful for lending to Georgia residents. Violation of Federal Law ( TILA Truth in Lending Act ). The Truth in Lending Act requires lenders to disclose the APR, finance charges, payment schedule, and total repayment amount before consummation of the loan. Willow Lake Lending disbursed funds without disclosure, depriving me of the opportunity to review and decline the terms. Predatory Lending / UDAAP Concerns Charging 653.25 % APR, failing to disclose terms in advance, and using automatic withdrawals constitutes an unfair, deceptive, and abusive act or practice ( UDAAP ).
Frequently Asked Questions
What is Complaint #20012986 about?
Complaint #20012986 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 2025-10-16T12:00:00-05:00.
How did Rosebud Economic Development Corporation respond to this complaint?
The company responded with: "Closed with explanation". The response was not 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.