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Attorney General Online Marketplace Lending

Troutman Pepper

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

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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

Goodwin

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

Goodwin

West Virginia Attorney General Announces Settlement with Online Lender Over Alleged Usurious Loans

Goodwin on

On June 6, 2016, the West Virginia Attorney General announced a settlement with a regional online lender over allegations that the lender’s business practices violated West Virginia’s Consumer Credit and Protection Act. The...more

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