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Ballard Spahr LLP

CFPB reaches settlement with FirstCash in connection with alleged MLA Violations

Ballard Spahr LLP on

The CFPB has reached a settlement in its lawsuit against FirstCash, Inc. and its 19 subsidiaries alleging violations of the Military Lending Act (MLA). The parties have jointly filed a stipulated final judgment and proposed...more

A&O Shearman

A penalty for your thoughts: default interest rate found to be penal

A&O Shearman on

The High Court has found a clause that imposed default interest of 4% per month on a defaulting party to be a penalty and therefore unenforceable....more

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