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Interest Rates Unfair or Deceptive Trade Practices Debt Collection

Orrick, Herrington & Sutcliffe LLP

Philadelphia court receives usury claim against payday loan company

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

CFPB announces proposed consent order with companies alleged to have collected loans void under state law

Ballard Spahr LLP on

The CFPB announced that it has entered into a proposed consent order with Think Finance and six subsidiaries (collectively, the “Think Entities’) to settle the Bureau’s lawsuit filed in November 2017 that alleged the Think...more

Goodwin

North Carolina AG Settles with Out-of-State Payday Lender for $825,000

Goodwin on

On January 27, 2020, North Carolina Attorney General Josh Stein (North Carolina AG) reached ?a settlement with an out-of-state payday lender for $825,000. The Attorney General obtained a consent temporary restraining order...more

Brownstein Hyatt Farber Schreck

Federal Court Applies Nevada’s Interest Statute in FDCPA Case

Debt collectors are often at the mercy of their client’s customer contracts when collecting a debt. We often encourage debt collectors to work with their clients to fashion consumer contracts that avoid or minimize FDCPA risk...more

Ballard Spahr LLP

Seventh Circuit Rejects Use of Miller "Safe Harbor" Language When a Debt Cannot Increase

Ballard Spahr LLP on

Safe harbor language is not always safe, as illustrated by a recent decision of the U.S. Court of Appeals for the Seventh Circuit Court of Appeals in Boucher v. Finance System of Green Bay....more

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