Nasdaq to Delist Stock of First Alliance Corp.
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Controversial mortgage lender First Alliance Corp. said its common stock will be delisted Thursday by Nasdaq officials, who cited uncertainty over the company’s bankruptcy filing.
The Irvine company, which has been under criticism for charging high fees and making loans with high interest rates to borrowers with poor credit, filed for bankruptcy protection March 23 and stopped making loans.
Its stock last traded March 27, closing at $2.13 a share.
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