Payday-Loan Suit Tags Montel Williams, JPMorgan, Wells Fargo

Law360, New York (January 2, 2013, 6:44 PM EST) -- A group of offshore lenders face class action claims that they made unlicensed payday loans and charged illegally high interest rates in a lawsuit removed to California federal court Monday that also targets talk-show host Montel Williams, JPMorgan Chase Bank and Wells Fargo for allegedly aiding the scheme.

In a putative class action, plaintiffs Dinah Pham, Paula Bernal and Mary Bailey sued the Web-based lenders, including Cash Yes, Gateway Holdings, Horizon Opportunities and Payday Valet, after taking out payday loans and facing stiffer fees than the...
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