Business ProfileforCCBANK

Out of desperation, I got a loan from them for $1,000. I skimmed through the agreement but missed a very important part, which is the interest. The interest was over 160%. Id never experienced anything like that in my life! How ** is that reasonable!?

To Whom It May Concern:We are in receipt of the review that the customer filed with the **********************. Please be aware Capital Community Bank (CCBank) is a Utah state-chartered bank with the ************************************* (FDIC) as our primary federal banking regulator. Consequently, both federal banking laws and the laws of the State of Utah govern agreements with CCBank. We have contracted with third parties to provide certain services on behalf of CCBank.We performed a search of CCBanks records. We entered multiple combinations of the information the consumer provided in the complaint. Unfortunately, we were unable to find any account associated with the information provided.We can confirm certain publicly available information. As referenced above, CCBank is governed by Utah State and Federal Law. Therefore, there is no limit to the interest that the Bank may charge related to our loan products. Further, the Bank is permitted to operate in any state in the *************. The terms for our agreement are fully disclosed in the agreement including the loan amount, the Annual Percentage Rate ("APR"), and the Cost of Financing among other disclosures required by law. These disclosures are prominently displayed in the Truth in Lending Disclosures. Further, the terms are provided to applicants for consideration prior to the applicant's voluntary acceptance of the loan and terms. CCBank has several loan products designed to provide customers who have little or poor credit histories an opportunity to solve short-term financial needs with credit reporting. These products provide customers with the opportunity to build or establish credit with the goal of transitioning to a more mainstream financial product. CCBank does not charge a pre-payment penalty; therefore, customers are able to pay off their loan at any time without any additional fees. CCBank encourages customers who want to save money to pay early, pay often, and pay more than the minimum amount due.The consumer is welcome to respond directly to the bank at *************************************** with additional information to assist with identifying their account. We strongly recommend that consumers do not share their private personal or financial information with non-regulatory third parties or in any public forum.Sincerely,Customer Care ********************