Think Finance signs $44.5 million deal to end class usury claims

0
By Joyce Hanson (February 11, 2022 10:06 p.m. EST) – Consumers who had sued the owners of now-defunct payday lender Think Finance asked a federal judge in Virginia on Thursday for a $44.5 million settlement to sign resulting from the company’s claims used Native American-owned firms as fronts to charge excessively high interest rates.

The proposed class, led by named plaintiff Darlene Gibbs and a dozen other consumers, told US District Judge M. Hannah Lauck that the deal involved the case in relation to a complex lending company that allegedly violated state and federal laws, will largely end online, short-term loans with triple-digit interest rates.

“If approved, this settlement will…

Stay ahead of the curve

In the legal profession, information is the key to success. You need to know what’s happening with customers, competitors, operations, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data in articles (numbers, files, courts, type of action and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics, and more!

TRY LAW360 FOR FREE SEVEN DAYS

Share.

Comments are closed.