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Consumer Protection Laws › Annual Percentage Rate (APR)

Sheppard Mullin Richter & Hampton LLP

New York AG Sues Earned Wage Access Companies for Allegedly Unlawful Lending Practices

Sheppard Mullin Richter & Hampton LLP on

On April 14, New York Attorney General Letitia James announced two separate lawsuits against earned wage access providers—one against a company that issues advances directly to consumers, and another targeting a provider that...more

Cozen O'Connor

D.C. AG Schwalb Settles with Fintech Platform over Usurious “Tipping” Model

Cozen O'Connor on

District of Columbia AG Brian Schwalb settled with SoLo Funds, Inc. to resolve allegations that the fintech platform violated the District’s Consumer Protection Procedures Act and usury statute by deceptively charging...more

Ballard Spahr LLP

Virginia House of Delegates passes bill to establish 36% rate cap for “short-term” and other loans

Ballard Spahr LLP on

On January 31, 2020, by a vote of 65 to 33, the Virginia House of Delegates passed a bill that would establish a 36% rate cap on certain consumer loans.  Since Democrats also hold a majority in the Virginia Senate, the Senate...more

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