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State Attorneys General Consumer Lenders Usury

Ballard Spahr LLP

New York AG sues payday lenders MoneyLion and DailyPay

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New York Attorney General Letitia James has sued payday lenders MoneyLion Inc. and DailyPay Inc. in New York state court, alleging that the two companies took advantage of tens of thousands of New Yorkers....more

Orrick, Herrington & Sutcliffe LLP

New York attorney general files two complaints against wage access providers

On April 14, the Attorney General (AG) for the State of New York filed two complaints in the New York State Supreme Court, alleging two earned wage access (EWA) providers violated civil and criminal usury provisions, as well...more

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

Goodwin

Minnesota AG Enters into Consent Order Over High-Cost Online Lenders, Discharging Over $1 Million in Loans

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On Tuesday, November 26, the Minnesota Attorney General’s office (AG) announced it filed a consent order to resolve allegations that online lenders were charging interest on loans in excess of the amounts prescribed under...more

Goodwin

Virginia AG Settles with Foreclosure Rescue Lender

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On August 24, 2021, the Virginia Attorney General (“Virginia AG”) announced that it entered into settlement ​with a Virginia-based lender and its managing member over allegations that the lender violated §§ 6.2-303 and...more

Ballard Spahr LLP

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

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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

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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

Ballard Spahr LLP

Virginia Attorney General obtains default judgment in lawsuit against pension advance company

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Virginia’s Attorney General has announced that “he has secured more than $50 million in debt relief and ordered civil penalties” as a result of his lawsuit filed in state court in March 2018 against Future Income Payments...more

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