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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

Debt Ball and Chain

Plain Green and Great Plains “Rent-A-Tribe” Lending Scheme Third Class Action

This is the third of three related cases alleging that unscrupulous lenders have used Native American tribal sovereignty to get around state usury laws and illegally extract nearly $70 million from Virginia residents in the last four years. The forty-page complaint contains a great deal of detail on the workings of the two tribal companies  Read more

Bank of America Military Interest Rates Settlement

Bank of America is paying nearly $42 million to settle claims that it violated the Servicemembers Civil Relief Act, the Truth in Lending Act, North Carolina’s Unfair and Deceptive Trade Practices Act, as well as common law, by charging service members and their families excessive interest rates on mortgages, credit card accounts, and other interest-bearing  Read more

Monterey Collections and Prosper, Inc. Excessive Interest Rates Class Action

According to the complaint for this class action, plaintiff Lazarao Cintron was charged more interest than the state usury law allows. Prosper, Inc. gave Cintron a personal loan of $4,000 at 17.99% interest, the complaint alleges, under a contract which had a New Jersey choice of law provision. However, under the usury laws for the  Read more

Plain Green and Great Plains Lending Scheme RICO and Excessive Interest Class Action

This class action involves a payday loan scheme that combines interest rates in excess of 400%, a snarl of interlocking companies, and a “rent-a-tribe” agreement that attempts to use Native American tribal rights as a shield against federal and state usury laws. The name of defendant Kenneth Rees as well as the general outline of  Read more

Citizens Bank Sustained Overdraft Fee Class Action Lawsuit

When a bank charges you not only an overdraft fee, but additional fees on the days before you repay the overdraft, are those additional fees interest on a loan? This class action argues that they are, and that Citizens Bank’s specific additional fees on overdrafts therefore violate federal laws against usurious interest charges. The class  Read more

Navient Student Loan Usury Interest Class Action Lawsuit

This lawsuit alleges that Navient, the successor entity to student lender Sallie Mae, charged student loan interest rates to California borrowers that were in excess of the 10% annual interest rate limit permitted by California Usury laws.  Read more