Payday 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
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
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
Speedy Cash Excessive Rate of Interest on Loans California Class Action
States sometimes limit the amount of interest lenders can charge for their loans. The complaint for this class action brings suit against Speedy Cash, alleging the company charges more interest than is permitted under the California Financing Law and for violating other state laws. It claims Speedy is “preying on California consumers with usurious 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
