Law360 (October 19, 2018, 4:13 PM EDT) -- A Washington federal judge has denied a bid by a former Google executive's financial technology company and a tribal corporation through which his fintech firm ran a payday lending business to force into arbitration a suit over exorbitant interest rates, ruling that arbitration clauses in agreements borrowers signed are invalid.
U.S. District Judge Robert J. Bryan on Thursday handed down an order denying motions by ex-Google exec Douglas Merrill and his company ZestFinance Inc. and by tribal corporation BlueChip Financial to compel arbitration in the proposed class action brought by lead plaintiff Teresa Titus. The judge said the unclear loan contract...
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