News & Analysis as of

Consumer Lenders › Class Action › Usury

Orrick, Herrington & Sutcliffe LLP

Philadelphia court receives usury claim against payday loan company

Orrick, Herrington & Sutcliffe LLP on

On March 11, a class action lawsuit was filed in the Philadelphia County Court of Common Pleas against a financial technology company offering cash advances up to $200 through a lending app. The lawsuit alleged the company...more

Ballard Spahr LLP

Class Action Lawsuit Filed Against FinTech Lender Opportunity Financial For Evading Texas State Usury Laws

Ballard Spahr LLP on

On June 1, 2022, plaintiff Kristen Michael filed a class action lawsuit against FinTech lender Opportunity Financial, LLC (“OppFi”) on behalf of herself and a putative class alleging, inter alia, that OppFi loans money at an...more

Holland & Knight LLP

Federal Court: Unlicensed Debt Buyer Violates FDCPA - Is Ruling in Harmony with the New Jersey Consumer Finance Licensing Act?

Holland & Knight LLP on

• The U.S. District Court for the District of New Jersey has denied a defendant's motion to dismiss a putative statewide class action complaint that alleged that the defendant violated Section e(10) of the federal Fair Debt...more

Ballard Spahr LLP

California Supreme Court to Decide Key Finance Lender Law Usury and Unconscionability Issue

Ballard Spahr LLP on

Although the California Finance Lenders Law (the CFLL) does not limit the interest rates that may be charged on loans of $2,500 or more, Section 22302 of the law expressly states that loans made under the CFLL may be held...more

Troutman Pepper Locke

New True Lender Case Provides Support for the Bank Partnership Model

Troutman Pepper Locke on

The court explicitly acknowledged that making it difficult for banks to assign or sell their commercial property to the secondary market impedes good public policy. On September 20, the U.S. District Court for the...more

5 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up Log in
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide