Borrowers Reject AG's Atty Fee Critique In $141M Lender Deal

Law360 (October 15, 2020, 8:55 PM EDT) -- Borrowers looking to clinch a $141 million settlement of illegal lending claims against online lender American Web Loan urged a Virginia federal judge on Wednesday to press ahead with final approval of the deal, defending their request for $32.4 million in attorney fees against criticism from the state's attorney general.

Virginia Attorney General Mark Herring weighed in earlier this month to argue that U.S. District Judge Henry C. Morgan Jr. should reject these requested fees from the proposed settlement because the burden of paying them wouldn't be spread proportionately across the borrower class in line to benefit from the deal, which...

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