Ga. Borrowers Drop Suit Against Tribe-Linked Online Lender

Law360 (September 20, 2019, 5:22 PM EDT) -- A Georgia federal court on Friday terminated a proposed class action claiming an online lending company was trying to evade lending and racketeering laws by exploiting a Michigan-based tribe's sovereign immunity, a day after the plaintiffs said they wanted to drop the case.

Plaintiffs Victoria Renee McKoy, Desiree Wright Lovins, Carrie Samantha Smith and Sandra Monsalve filed a notice of voluntary dismissal Thursday of their suit on behalf of a proposed class of Georgia borrowers. The plaintiffs claimed Big Picture Loans LLC and Ascension Technologies LLC charged illegally high interest rates on short-term loans and used their connection with the Lac...

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