Not Licensed to Make Loans

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 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

North American Financial Unlicensed Lending California Class Action

North American Financial Corporation (NAFC) has been making mortgage loans in California. What’s wrong with that? The complaint for this class action alleges that the company was not licensed to make such loans, but only to act as a broker between consumers and a licensed lender. Thus, the complaint argues, the borrowers for those loans  Read more

Big Picture Loans High Interest Rates Settlement

This settlement resolves a class action against Big Picture Loans and Red Rock Tribal Lending, which does business as Castle Payday Loans, and also resolves other cases based in Virginia, California, Oregon, Georgia, and Massachusetts. The complaint alleged that the companies violated state usury laws and the Racketeer Influenced and Corrupt Organizations (RICO) Act, made  Read more

Great Plains, Others Excessive Interest Rates on Loans Settlement

This settlement resolves a class action against Kenneth Rees and a number of “payday loan” companies, including Sequoia, TCV, and National Credit Adjusters (NCA), for loans originating with Great Plains Lending, LLC, Plain Green, LLC, and MobiLoans, LLC. The latter three are companies supposedly owned by Indian tribes. This is a second settlement in a  Read more

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

MoneyMutual Payday Loans from Unlicensed Lenders Settlement

This settlement resolves a class action claiming that MoneyMutual and other companies violated laws by promoting payday loans from unlicensed lenders. The complaint claims that the defendants in this case operated or were affiliated with certain websites used to refer borrowers to lenders, including MoneyMutual.com. It also alleges that many of the lenders promoted were  Read more