Babaamaajimowinan (Telling of news in different places)

Court Awards $10 Million Penalty Against Payday Lender, Rejecting CFPB's Request for $280 Million in Restitution and Penalties

In August 2016, the U.S. District Court for the Central District of California granted partial summary judgment to the Consumer Financial Protection Bureau (CFPB) in a federal lawsuit against a California-based online payday lender, its individual owner, its subsidiary, and a servicer of its loans (“Defendants”), where the CFPB alleged that Defendants used a “rent-a-tribe” scheme to avoid state usury and licensing laws in violation of the Consumer Financial Protection Act (CFPA).

https://www.jdsupra.com/legalnews/court-awards-10-million-penalty-against-68217/

 

Reader Comments(0)

 
 
Rendered 03/26/2024 13:57