Patricia Gout, on behalf of herself and all others similarly situated v. Unison Agreement Corp., Unison Investment Management, LLC, and Real Estate Equity Exchange, Inc., CGC-25-629062 (Cal. Super. Ct.) This class action complaint seeks relief for California borrowers against predatory mortgage lender Unison Agreement Corp. and its affiliates. The case asserts that the defendants dupe…
Johnathan Burkhard and Deven Burkhardt, individually and on behalf of all others similarly situated v. MoneyLion Technologies Inc., ML Plus, LLC, and MoneyLion of Florida, LLC, No. 3:25-cv-00693 (N.D. Fla.) This case seeks relief against predatory earned wage access lender MoneyLion and related companies on behalf of a nationwide class of servicemembers and their spouses…
Read More about Burkhardt et al. v. MoneyLion Technologies Inc. et al.
Interest rate caps still vary greatly from state to state, rates are trending upward, and too many states allow lenders to pile on junk fees.
Read More about 50-State Survey: APRs Increase As States Allow Lenders to Pile on Junk Fees
Forty-five states and the District of Columbia (DC) currently cap interest rates and loan fees for at least some consumer installment loans, depending on the size of the loan. However, the caps vary greatly from state to state, and a few states do not cap interest rates at all.
Consumers who wish to borrow small amounts of money may have several options. Comparing them can be difficult, especially since consumers do not always get annual percentage rate (APR) disclosures. The APR is an important price comparison tool, providing an apples-to-apples rate comparison for borrowing the same amount of money for the same amount of…
The brief supports the State of Colorado and reversal of a federal district court decision in the case, NAIB v. Weiser.
Almost all states cap the maximum annual percentage rate (APR) on small- to mid-size installment loans: 45 states and DC cap the rate on a $500, six-month loan; 43 states plus DC do for a $2,000, two-year loan; and 42 states plus DC do so for a $10,000, five-year loan.
Read More about State APR Caps for $500, $2,000 and $10,000 Installment Loans
Consumer advocates question what is driving higher rates and defend the new late fee rule by the CFPB.
Read More about Synchrony's Planned Rate Hike Unjustified, Advocates Say
Bland v. Carolina Lease Management Group et alU.S. District Court Case No. 4:22-CV-33-BO (E.D.N.C.)Court of Appeals, 4th Cir., Case No. 23-1367 This class action challenges exploitative rent to own contracts. Plaintiffs entered into separate rent to own contracts for storage sheds with Carolina Lease Management Group. The agreements provided that after 4 years of monthly…
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Carolina Lease Management Group v. GreeneNo. 21 CvD 134 (Jones Cty. Super. Ct., N.C.) This case involves a class counterclaim filed in response to a replevin action. The counterclaim alleges that Mr. Greene and hundreds of others like him entered into a rent to own contract for storage sheds with Carolina Lease Management Group. The…
Everything that is wrong with a high-cost loan is only made worse when the loan is larger and the terms are longer.
Read More about 50-State Survey Finds Larger Loans Need Lower Rates
This report surveys the interest rates and loan fees allowed by all 50 states and the District of Columbia for an unsecured 5-year installment loan of $10,000.
