Advance Financial 24/7 Predatory Lending Class Action

The complaint for this class action brings suit against Shiva Finance, LLC and Harpeth Financial Services, LLC for predatory lending practices. Among them are requiring an arbitration clause the companies themselves don’t abide by, failure to make legally-required disclosures, and making unauthorized electronic withdrawals from bank accounts.  Read more

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Spotloan Loans Excessive Interest Rate Settlement

BlueChip Financial, ZestFinance, Inc., and Douglas Merrill are settling class actions involving loans made by BlueChip, which does business as Spotloan. The complaint alleged that the loans were made (a) at interest rates greater than those permitted by state laws, or (b) by lenders who did not have a license to lend, and that the  Read more

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Earnin Skirts Loan Regulations with Wording Class Action

Payday loan companies are known for their very high interest rates and their ability to trap consumers into loans that are very difficult to pay off. The complaint for this class action alleges that Activehours, Inc., which does business as Earnin is a payday lender, but uses different terms in its business that it hopes  Read more

BlueChip Financial “Rent-a-Tribe” Scheme Connecticut Class Action

This class action takes on the payday lending entity BlueChip Financial, which does business as Spotloan. However, it also brings suit against officials of the Turtle Mountain Band of Chippewa Indians, which purportedly owns BlueChip, for acting as a front for Spotloan.  Read more

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Big Picture Loans “Rent-a-Tribe” Payday Lender Usury and RICO Class Action

This is yet another class action taking on a “rent-a-tribe” payday loan scheme. Big Picture Loans, LLC was not actually a tribal company, the complaint for this class action alleges, but a scheme designed to get around licensing requirements and laws that prohibit lenders from charging too much interest. (Note that this case was transferred  Read more

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MobiLoans “Rent-a-Tribe” Illegal Lending Scheme RICO Class Action

This is yet another case about the “rent-a-tribe” usurious lending scheme run primarly by Think Finance, LLC and its associates. This time, the defendant is MobiLoans, LLC and the complaint alleges violations of the Racketeer Influenced and Corrupt Organizations (RICO) Act.  Read more

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Great Plains “Tribal Sovereignty” High-Interest-Rate Loans RICO Class Action

This is the fourth complaint these same plaintiffs have filed for this “rent-a-tribe” usury scheme, each time against a different group of defendants. This time, defendants are Mark Curry, Brian McGowan, Eric Lau, and Sentinel Resources, LLC. The class action claims they have violated Racketeer Influenced and Corrupt Organizations (RICO) laws as well as Virginia’s  Read more

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Big Picture Loans “Rent-a-Tribe” Lending Scheme RICO Class Action

State laws regulate lenders, requiring that they be licensed and specifying a ceiling on the amount of interest they can charge. But in recent years, some have tried to get around these laws, and any regulation whatsoever, by falsely claiming that their loan companies are owned by Native American tribes and taking advantage of sovereignty  Read more

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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

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Big Picture Loans “Rent-a-Tribe” Money-Lending Operation Class Action

The complaint for this class action outlines yet another “rent-a-tribe” arrangement in which a Native American tribe allegedly acts as a front for a payday loan scheme to charge astronomical interest rates to get around state or federal usury laws. Not only is the tribe not truly involved, the complaint says; the fees charged have  Read more

Bundle of Money Baiting a Mouse Trap