Excessive Interest Rate
Tribal Lending High Interest Rate Loans Settlement
A group of defendants are settling a class action about loans made by purportedly tribal entities, including Golden Valley, Silver Cloud, Majestic Lake, and Mountain Summit. The settling defendants include at seven tribal individuals and four non-tribal. The complaint alleged that the loans were made a higher interest rates than permitted under their respective state Read more
Crane Finance “Rent-a-Tribe” Predatory Lending Indiana Class Action
Crane Lending, LLC does business as Crane Finance, making loans at high rates of interest. The complaint brings suit against Crane, the individual Jennifer Peters, and Wolf River Development, alleging that Crane is a predatory lender that uses a rent-a-tribe scheme to circumvent Indiana laws capping interest rates on consumer loans. Read more
West Side Lending Predatory Rates of Interest Illinois Class Action
This Illinois predatory lending case sues West Side Lending, LLC, Jennifer Peters, Wolf River Development Company, New Platform Fund, LLC, and a group of “Does” or individuals whose names are not known. The complaint alleges that the predatory lending was done under cover of a “rent-a-tribe” scheme, but that the actual operations were performed by, Read more
Bridge Lending “Rent-a-Tribe” High-Interest Loans Indiana Class Action
This class action involves two payday-loan-related companies purportedly owned and operated by a Native American tribe—Biboon, LLC, which does business as Bridge Lending Solutions, and LDF Holdings, LLC. The complaint alleges that these actually represent “rent-a-tribe” business arrangements intended to circumvent Indiana usury laws. Read more
LendingClub Loans Circumvent Pennsylvania Lending Laws Class Action
LendingClub Corporation is a non-bank lender that makes loans to consumers. The complaint for this class action alleges that it violates Pennsylvania law by charging consumers excessive interest and fees not permitted by the Loan Interest Protection Law (LIPL), the Consumer Discount Company Act (CDCA), and the Unfair Trade Practices and Consumer Protection Law (UTPCPL). Read more
Think Finance Loans at High Interest Rates Settlement
Partial settlement of class actions alleging three companies, purportedly owned by Native American Indian tribes, made improper loans or supplied lines of credit in violation of federal and state lending laws. The companies are Great Plains, Plain Green, and MobiLoans. The complaints alleged that several companies, which are together known as Think Finance, provided services Read more
MDG Interest on Loans for California Consumer Purchases Class Action
MDG USA, Inc. offers a website on which it sells consumer goods like televisions, computers, furniture, gaming devices, and appliances. It also offers consumers credit so they can buy these items. But the complaint for this class action alleges that MDG sets its interest rates at or above 35%, when the maximum interest rate permitted Read more
ZocaLoans “Rent-a-Tribe” Predatory Lending Scheme Illinois Class Action
The primary defendant in this class action is Rosebud Lending LZO, doing business as ZocaLoans, which is supposedly an entity of the Rosebud Sioux Tribe that lends money. But the complaint alleges that it is part of a rent-a-tribe scheme, in which predatory lenders 777 Partners, LLC, Tactical Marketing Partners, LLC, and others engage in Read more
Itria, Biz2Credit “Future Receivables Purchases” RICO Class Action
This class action involves financing provided to businesses by Itria Ventures, LLC and Biz2Credit, Inc. The complaint alleges that the companies offer “future receivables purchases” rather than loans, but that they renege on terms of the financing, charge usurious interest rates, and engage in racketeering. Read more
MaxLend “Rent-a-Tribe” Payday Loans Illinois Class Action
Are lenders allowed to charge nearly 700% in interest? Not under Illinois state laws. But two entities—Makes Cents, Inc. and Uetsa Tsakits, Inc. (UTI)—who make such loans through the website www.MaxLend.com, purport to be owned by the Mandan, Hidatsa, and Ankara Nation, and to therefore be entitled to tribal sovereignty and tribal immunity. The complaint Read more