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Loans Internet Lenders

Cozen O'Connor

Online Lender Settles Allegations of Charging Usury Interest and Operating Without a License

Cozen O'Connor on

District of Columbia AG Karl Racine reached a settlement with online lender Elevate Credit, Inc. to resolve allegations it used misleading tactics to market loans with unlawfully high interest rates to consumers in violation...more

Hudson Cook, LLP

New York DFS and Other Regulators Launch Investigation into Payroll Advance Industry

Hudson Cook, LLP on

On August 6, 2019, the New York Department of Financial Services Superintendent Linda A. Lacewell announced that the DFS will lead a multistate investigation into the payroll advance industry and allegations of unlawful...more

Ballard Spahr LLP

Federal district court certifies interlocutory appeal in CFPB lawsuit against CashCall

Ballard Spahr LLP on

The California federal district court judge who is presiding over the CFPB’s lawsuit against CashCall and several related companies that funded, purchased, serviced, and collected online installment loans has granted the...more

Ballard Spahr LLP

CFPB files lawsuit against Internet payday loan companies

Ballard Spahr LLP on

The CFPB has filed a complaint in federal district court in New York against a group of commonly-controlled companies for allegedly engaging in unlawful conduct in connection with making payday loans over the Internet. With...more

Manatt, Phelps & Phillips, LLP

Go Online, Young Man: Goldman Sachs to Hit the Web for Online Lending Gold Rush

Why it matters - Marketplace lending has exploded onto the scene and become a multibillion-dollar industry. Hoping to capitalize on the gold rush of consumers turning to websites to borrow money, Goldman Sachs announced...more

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