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Attorney General Consumer Lenders

Goodwin

Virginia AG Files Suit Over Pension Loans

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On March 7, 2018, the Virginia Attorney General’s Office (“Virginia AG”) filed a complaint against two related loan companies and their owner (the “Defendants”) in Virginia state court. According to the complaint, the...more

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Virginia Attorney General Files Suit Against Online Lender Alleging Predatory Lending

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On May 4, Virginia Attorney General Mark R. Herring (“VA Attorney General”) announced that its Predatory Lending Unit had filed suit in Virginia state court against a Chicago-based online lender, alleging violations of the...more

Cozen O'Connor

The State AG Report Weekly Update April 2018 #4

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Antitrust- Texas Attorney General Reaches Settlement with Dental Supply Distributor Over Alleged Anticompetitive Conduct- Texas Attorney General Ken Paxton settled with dental supply distributor Patterson Companies,...more

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Virginia AG Settles with Local Small Dollar Lender Over Excessive Fees

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On August 1, 2017, the Virginia Attorney General’s Office (AG) announced? that it had entered into a consent order with a state pawnbroker, settling allegations that the company overcharged consumers and was “skirting laws.” ...more

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Massachusetts AG Obtains Judgment Against Online Auto Title Lender for Illegal Loans

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On May 25, 2017, Massachusetts Attorney General Maura Healey (“Massachusetts AG”) announced? a final judgment and permanent injunction entered? in Suffolk Superior Court against an unlicensed ?online auto title lender,...more

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Massachusetts and Delaware AGs Announce $25 Million in Settlements with Subprime Auto Lender

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On March 29, 2017, the Massachusetts and Delaware Attorney Generals (“AGs”) announced settlements with a national bank, resolving allegations that the bank originated unfair and usurious automobile loans in violation of...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...

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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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Small Dollar Lender to Refund Virginia Consumers $15.335 Million

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On January 31, 2017, the Attorney General for the Commonwealth of Virginia (VA AG) announced that it entered into a settlement with a small dollar loan lender. The lender allegedly engaged into a “rent-a-tribe” scheme through...more

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United States Attorney’s Office Announces Guilty Pleas in Criminal Prosecution of Alleged $31 Million Debt Collection Scheme

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On November 18, 2016, the U.S. Attorney’s Office for the Southern District of New York (“USAO”) announced that the co-owner and chief financial officer of a debt collection company, and a company manager, pleaded guilty to...more

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New Mexico Judge Orders Payday Lender to Pay $32 Million in Restitution

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On November 9, 2016, the New Mexico Attorney General (AG) announced that a New Mexico judge issued a final judgment against a payday lender and ordered the lender to pay $32 million in restitution. The court found the...more

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Student Loan Company Ordered to Stop Doing Business in Kentucky

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On September 27, 2016, the Kentucky Attorney General announced that on September 15, 2016, a Franklin Circuit Judge ordered a Florida-based student loan company to cease all operations in Kentucky. The Attorney General’s...more

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Minnesota AG Settles Suit Against California Online Lender Relating to Alleged “Rent-a-Tribe” Scheme

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On August 19, the Attorney General’s Office for the State of Minnesota (Minnesota AG) announced that it had settled a lawsuit against a California-based online lender relating to an alleged “rent-a-tribe” scheme. The...more

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