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Tribal Loans Usury

Orrick, Herrington & Sutcliffe LLP

4th Circuit affirms certification of class action in tribal lending case

On January 24, the U.S. Court of Appeals for the Fourth Circuit concluded that a district court did not abuse its discretion when certifying a class action. The lawsuit alleges an individual who orchestrated an online payday...more

Hudson Cook, LLP

True Lender Developments: Litigation and State Regulatory Actions

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Bank partnership lending programs have existed for years and have played a significant role in the growth of the online lending industry and the fintech sector. In a bank partnership lending program, a non-bank partner...more

The Volkov Law Group

US Brings First Criminal AML Case Against Broker-Dealer

The Volkov Law Group on

In a stark message, Justice Department prosecutors have brought the first criminal case for anti-money laundering violations against a broker-dealer. ...more

Manatt, Phelps & Phillips, LLP

Passive Investors in Payday Lending Operations Get Partial Reprieve

While tossing certain claims brought by Pennsylvania’s attorney general, a federal judge denied part of a motion to dismiss brought by online short-term lenders in an action accusing them of “renting” Native American tribes...more

Ballard Spahr LLP

CFPB doubles down on its attacks against online tribal lenders

Ballard Spahr LLP on

In a new lawsuit filed in an Illinois federal district court, the CFPB alleges that four online tribal lenders engaged in unfair, deceptive, and abusive acts or practices in violation of the Consumer Financial Protection Act...more

Goodwin

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

Goodwin on

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

Ballard Spahr LLP

CA federal court refuses to dismiss CFPB lawsuit against payday lending companies alleging UDAAP violations based on state law...

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A federal district court has refused to dismiss the lawsuit filed by the CFPB in December 2013 against CashCall, several related companies and their principal, which asserted UDAAP violations based on the defendants’ efforts...more

McGuireWoods LLP

CFPB Online Loan Suit Sent to California

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In the most recent development in the CFPB’s two-year-old lawsuit alleging unfair, deceptive, and abusive practices by several online lenders, on September 23, 2015, Massachusetts U.S. District Judge George O’Toole, Jr.,...more

Carlton Fields

The Importance Of Selecting An Available Arbitration Forum

Carlton Fields on

The Eleventh Circuit affirmed a Florida district court’s denial of Cashcall’s motion to compel arbitration, as the forum selected in the parties’ loan agreement was not available. Appellee Abraham Inetianbor initially...more

Troutman Pepper

Update On Tribal Loans To State Residents

Troutman Pepper on

Native American tribes increasingly are engaging in consumer lending over the Internet. These “tribal loans” present unique legal questions and issues, including whether tribal sovereign immunity shields tribes and their...more

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