American Web Loan Payday Loan Settlement

This settlement resolves a class action about loans made in the name of American Web Loans (AWL) and other associated companies. The complaint alleged that AWL was not licensed to lend in any state, that it violated federal law by making loans at higher rates than allowed by state laws, did not adequately disclose the  Read more

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Chase Bank Military Member Credit Card Holders Settlement

JPMorgan Chase Bank, NA is paying $62 million to settle a class action alleging it did not reduce the interest rates on the credit card accounts of service member customers. The complaint alleges that Chase’s behavior violates the Servicemembers Civil Relief Act, the Truth in Lending Act, Delaware’s Consumer Fraud Act, and breach of contract.  Read more

Chase Bank Sign on City Building

Alaska USA Federal Credit Union Auto Loan Markups Class Action

Consumers want to receive the best interest rates available to them. The complaint for this class action, however, alleges that Alaska USA Federal Credit Union (AFCU) and its Board of Directors allow auto dealers to mark up the interest rates on its auto loans. The complaint claims that this violates the Washington Consumer Protection Act  Read more

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Spotloan Loans Excessive Interest Rate Settlement

BlueChip Financial, ZestFinance, Inc., and Douglas Merrill are settling class actions involving loans made by BlueChip, which does business as Spotloan. The complaint alleged that the loans were made (a) at interest rates greater than those permitted by state laws, or (b) by lenders who did not have a license to lend, and that the  Read more

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Santander Consumer Auto Loan Excessive Interest Arkansas Class Action

The Arkansas Constitution imposes an interest rate cap of 17%. The complaint for this class action alleges that Santander Consumer USA, Inc. violates this basic provision, and the Arkansas Deceptive Trade Practices Act (ADTP), with its interest charges in the financing agreement for the purchase of a vehicle.  Read more

BlueChip Financial “Rent-a-Tribe” Scheme Connecticut Class Action

This class action takes on the payday lending entity BlueChip Financial, which does business as Spotloan. However, it also brings suit against officials of the Turtle Mountain Band of Chippewa Indians, which purportedly owns BlueChip, for acting as a front for Spotloan.  Read more

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Big Picture Loans “Rent-a-Tribe” Payday Lender Usury and RICO Class Action

This is yet another class action taking on a “rent-a-tribe” payday loan scheme. Big Picture Loans, LLC was not actually a tribal company, the complaint for this class action alleges, but a scheme designed to get around licensing requirements and laws that prohibit lenders from charging too much interest. (Note that this case was transferred  Read more

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Great Plains “Tribal Sovereignty” High-Interest-Rate Loans RICO Class Action

This is the fourth complaint these same plaintiffs have filed for this “rent-a-tribe” usury scheme, each time against a different group of defendants. This time, defendants are Mark Curry, Brian McGowan, Eric Lau, and Sentinel Resources, LLC. The class action claims they have violated Racketeer Influenced and Corrupt Organizations (RICO) laws as well as Virginia’s  Read more

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Mariner Finance Refinancing and Insurance Charges Maryland Settlement

This settlement resolves a class action against Mariner Finance, LLC. The complaint alleged that Mariner charged customers refinancing charges but did not include those with the simply interest rate in the promissory notes, possibly because the interest rates might then higher than allowed by Maryland laws. It also claimed that Mariner retained a portion of  Read more

Speedy Cash Deceptive Presentation of Loan Contract California Class Action

States have usury laws that prevent lenders from setting outrageous terms that hard-pressed customers will never be able to fulfill. But these laws don’t always apply to short-term loans. The complaint for this class actions cites one company, Speedy Cash, that allegedly charges interest rates, fees, and penalties so high that borrowers can never repay  Read more

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