Borrowers Reach $12M Deal In 3 Tribe-Linked Loan Suits
Law360 (June 24, 2019, 10:09 PM EDT) -- Consumers in three related proposed class actions accusing tribe-linked lenders of charging excessively high interest rates urged a Virginia federal court Friday to approve a $12.35 million settlement they say resolves all of their claims.
The proposed settlement, reached with lenders Great Plains Lending, Plain Green and MobiLoans, as well as Sentinel Resources, includes both debt relief and cash payments to class members. All defendants continue to deny the allegations raised by the consumers, but have agreed that a settlement is beneficial, according to the text of the agreement.
The agreement ends claims that the tribe-owned lenders, along with Sentinel and...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!