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In re Midland Funding LLC Interest Rate Litigation
Case Number:
7:11-cv-08149
Court:
Nature of Suit:
Multi Party Litigation:
Class Action
Judge:
Firms
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March 05, 2019
Midland's NY Rate Suit Deal Calls For $9M Balance Reductions
Debt collection firm Midland Funding LLC and an affiliate have agreed to provide $9.25 million in balance reductions and $555,000 in cash to tens of thousands of New York borrowers as part of a deal settling a long-running class action that led to a high-profile Second Circuit decision widely seen as problematic for debt buyers, online lenders and others.
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February 28, 2017
Judge Grants Class Cert. In Closely Watched NY Debt Case
A federal judge in New York on Monday said that a lawsuit alleging major debt collection firm Midland Funding LLC violated the state's usury laws could move forward and granted class certification, meaning the closely watched litigation will have a long way to run.