State penalizes Boise loan broker

April 18, 2013 

Boise loan Broker Dairld Wurtz has agreed to refund nearly $20,000 to customers for charging expenses without making loans he'd promised to make to them.

In a settlement with the Idaho Attorney General’s office, Wurtz also agreed to pay $1,500 to the Attorney General’s Office and to comply with the Idaho Consumer Protection Act and Idaho’s loan broker laws that the state says he violated.

Attorney General Lawrence Wasden said Thursday that his office received several complaints from Wurtz’s customers.

Some customers complained they were left in the dark for months without knowing the status of their loans, according to a news release from Wasden's office.

Wasden said his office receives similar complaints about other loan brokers as well.

“Every year my office receives dozens of complaints from consumers who lost money to loan brokers because the consumers paid upfront fees for loans they never received,” Wasden said. “If a loan broker asks a consumer for an upfront fee, including an application fee, that loan broker has violated Idaho law.”

Wasden's office said that as part of the settlement, Wurtz agreed to provide full documentation required by law. Wurtz could face a $15,000 penalty if he fails to comply.


Zach Kyle: 377-6464

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