Loan-Related Unfair Practices

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

American Credit Acceptance Deficiency Balances California Settlement

American Credit Acceptance, LLC (ACA) is settling a class action alleging it violated the Rees-Levering Automobile Sales Finance Act when it issued its written notices to consumers after repossessing their vehicles. The settlement concerns deficiency balances, that is, the amounts still allegedly owed by the consumer after the sale of the collateral automobile.  Read more

Prehired Vocational School and Loan Agreement Washington Class Action

This class action is about vocational schools and income-sharing agreements (ISAs), and the Washington state laws that govern them. It brings suit against a school, Prehired, LLC, its founder and CEO Joshua Jordan, and a company that designed and implemented ISAs, Meratas, Inc. The complaint lays out ways these three violated Washington’s laws on private  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

National Collegiate Student Loan Trusts Student Loan Collection Wisconsin Class Action

This class action concerns collections of student loans. The defendants are the National Collegiate Student Loan Trust and entities with similar names, NCT (a de facto company including other trusts), and Wilmington Trust Company (the trustee for the trusts). The complaint alleges that the Trusts and NCT “did not have the lawful right to collect  Read more

PNC Bank No Refund of GAP Fees for Early Auto Payoffs Class Action

This class action concerns Guaranteed Automobile Protection (GAP) agreements when customers pay off their auto loans early. The complaint for this class action brings suit against PNC Bank, NA, which does business as PNC Auto Finance, alleging that the company retains unearned GAP fees, when it should be refunding them to consumers after early payoffs.  Read more

Capital Plus Financial Funding of PPP Loans Class Action

Many businesses were put under severe financial strain due to the Covid-19 pandemic. To help alleviate the situation, Congress passed the CARES Act, which, among other things, provided emergency help to small businesses, sole proprietorships, and nonprofits through the Paycheck Protection Program (PPP). But the complaint for this class action alleges that Capital Plus Financial,  Read more

Nissan Motor Acceptance Refunds of Unearned GAP Waiver Fees Class Action

When a car is totaled or stolen, the insurance payout may not be enough to cover the amount the person still owes on the auto loan. The difference between the payout and the amount of the loan is called the “gap.” Consumers can cover this gap by buying Guaranteed Asset Protection (GAP) products. This class  Read more

Hyundai Capital No Refund of GAP Waiver Fees Class Action

This class action concerns Hyundai Capital America’s failure to refund fees from Guaranteed Asset Protection (GAP) Waiver Addendum fees when auto loans are paid off early. The complaint alleges that a certain portion of these fees are not earned when auto finance loans are paid off before the scheduled time and that these should be  Read more

American First Finance Terms of Loan Not Disclosed California Class Action

American First Finance, Inc. (AFF) has agreements with retail stores that allow it to provide financing for retail purchases. But the complaint for this class action allege that the company is not licensed to provide financing in California and that it makes financing Security Agreements with consumers that do not properly disclose the terms or  Read more