A competitor claims he is been told that the business intends to close both of its shops in Portland and Brunswick.
ACE money Express Inc., which gives monetary solutions targeted at low-income residents in Portland and Brunswick, no further is providing short-term вЂњpaydayвЂќ loans, workers confirmed Monday.
A Maine-based competitor stated he has got been told the business intends to shut both of its Maine places in July as an element of a more substantial downsizing move.
ACE, situated in Irving, Texas, would not get back duplicated telephone calls Friday and Monday looking for remark, but workers at its two Maine shops stated they will have discontinued payday financing services and referred all questions regarding the insurance policy switch with their business office.
ACE runs in 31 states in addition to District of Columbia, based on its web site, yet not all those continuing states enable payday financing. The organization provides a number of other solutions, including prepaid debit cards, always check cashing, bill payments, cash transfers, money instructions and deposit that is direct.
William Lund, superintendent associated with the Maine Bureau of credit rating Protection, said he had been unaware that ACE had eradicated payday advances recently. Nonetheless, he stated payday advances are not quite as lucrative in Maine as with several other states due to a cap that is relatively low the utmost annual rate of interest loan providers may charge.