Loan-Related Unfair Practices

Conduent Loan Verification Certificate Settlement

Conduent Education Services, LLC (CES), Access Group, Inc., and Access Funding 2015-1, LLC—three entities that held or serviced Federal Family Loan and Education Program (FFELP) loans—are paying more than $3 million to settle a class action. The complaint alleged that, when student loan borrowers applied for Direct Loan Consolidation, CES did not provide loan verification  Read more

Arkansas Federal Credit Union Repossession Notice Settlement

Arkansas Federal Credit Union (AFCU) is settling a class action that was filed against it as a counterclaim, in response to collection actions AFCU had taken against the plaintiffs in this case. The complaint alleged that AFCU had violated state laws through the use of improper repossession notices or post-sale notices that did not meet  Read more

LVNV Collection Settlement

This settlement resolves class actions against LVNV Funding, LLC, Resurgent Capital Service, LP, Alegis Group, LLC, and Sherman Financial Group, LLC. LVNV had filed collection lawsuits against Vittorio Blaylock and Guillermo Macia alleging they owed amounts on their credit card accounts. The two filed separate class actions making counterclaims against LVNV and third-party claims against  Read more

Toyota Motor Credit Corporation GAP Protection Settlement

Toyota Motor Credit Corporation (TMCC) is putting up $59 million to settle a class action alleging that it did not properly refund unearned Guaranteed Asset Protection (GAP) fees when customers paid off their finance agreements early. GAP protection can be added on to auto finance agreements so that if the vehicle is totaled or stolen,  Read more

Sound Credit Union Collateral Protection Insurance Washington Settlement

This settlement resolves a class action against Sound Credit Union, alleging it violated the Washington Consumer Protection Act and Washington common law. The complaint brought suit against Sound for charging borrowers for collateral protection insurance premiums, not fully refunding unearned premiums, and charging unauthorized fees and interest.  Read more

Santander Convenience Fee Settlement

Santander Consumer USA, Inc. choosing to resolve a class action alleging it violated the Texas Debt Collection Act by charging customers improper fees. The complaint alleged it charged customers a convenience fee, or pay-to-pay fee, when they paid their car loans by telephone, IVR, or the Internet.  Read more

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

Red Rocks Credit Union GAP Refunds Colorado Settlement

Red Rocks Credit Union (RRCU) is paying nearly $400,000 to settle a class action about GAP protection refunds. The complaint alleged that, when vehicle loans were paid off early, RRCU did not automatically refund the unused portion of GAP protection amounts.  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