Last week, three Capital One cardholders filed a putative class action in the Eastern District of New York, Cohen v. Capital One Funding, LLC, alleging that the rates of interest they paid to a securitization trust unlawfully...more
6/19/2019
/ Capital One ,
Consumer Financial Products ,
Consumer Lenders ,
Credit Cards ,
Financial Services Industry ,
Interest Rates ,
Jurisdictional Thresholds ,
Madden v Midland Funding ,
Putative Class Actions ,
Securitization ,
Trusts ,
Usury
Recently a state court in Colorado ruled that securitization trusts that acquire marketplace lender loans originated to Colorado consumers are subject to Colorado jurisdiction. The court’s ruling derailed the attempt by the...more
On November 30, 2018, the Administrator of the Colorado Uniform Consumer Credit Code (the “Administrator”) took Colorado’s longstanding litigation against marketplace lenders Avant and Marlette to a new level, adding as...more
In our prior Clients & Friends Memo “Who’s My Lender?” published on March 14, 2018, we analyzed two actions brought against marketplace lenders, one against Kabbage Inc. (“Kabbage”) in federal court in Massachusetts and the...more