CFPB, Think Finance Say Settlement Talks Are Underway

Law360 (November 16, 2018, 5:12 PM EST) -- The Consumer Financial Protection Bureau and Think Finance LLC asked a Montana federal judge on Friday to pause discovery in the agency's suit accusing the financial technology company of deceiving borrowers and using sham tribal lenders to collect money it wasn't owed, saying an end to the litigation is in sight.

The joint stay motion said the CFPB and the company, along with a host of other entities, individuals and claimants, have been engaging in global settlement discussions related to Think Finance's bankruptcy proceedings for several months. According to the agency and company, a 60-day pause on discovery should give the...

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