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Usury Unfair or Deceptive Trade Practices Loans

Latham & Watkins LLP

NY Attorney General Secures $1 Billion-Plus Judgment for Illegal Loans Misrepresented as Merchant Cash Advances

Latham & Watkins LLP on

On January 22, 2025, New York Attorney General (NYAG) Letitia James announced a judgment and settlement against cash advance provider Yellowstone Capital, its officers, and two dozen affiliates (Yellowstone) for more than $1...more

Troutman Pepper Locke

DC OAG Resolves Alleged Usury and Deceptive Acts Violations With Community Lending Platform

Troutman Pepper Locke on

On May 10, SoLo Funds, Inc. (Solo), one of the largest community lending platforms in the United States, entered into a settlement with the District of Columbia attorney general (OAG). The settlement resolves claims that the...more

Ballard Spahr LLP

Update on CFPB/NY AG lawsuit against RD Legal Funding

Ballard Spahr LLP on

RD Legal Funding, LLC is seeking to dismiss the lawsuit filed against it, two of its affiliates, and their individual principal in February 2017 by the CFPB and the New York Attorney General in a NY federal district court...more

Ballard Spahr LLP

CFPB/NY AG lawsuit against RD Legal Funding may signal greater scrutiny of non-loan financial products such as merchant cash...

Ballard Spahr LLP on

The CFPB and the New York Attorney General this week filed an action against RD Legal Funding, LLC, two of its affiliates, and their principal (collectively, “RD”), alleging that a litigation settlement advance product...more

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