MoneyMutual to Settle Payday Loan in California for $ 2 Million

By Dean Seal (Jan. 27, 2020, 3:57 p.m. EST) – Payday lender MoneyMutual LLC has agreed not to pay more than $ 2 million to resolve nearly seven years of civil litigation over allegations he illegally promoted loans from unlicensed lenders in California borrowers.

The deal presented to a California federal judge for preliminary approval on Friday would pay $ 675,000 to a subcategory of Golden State borrowers who not only received loans from illegal lenders, but also repaid money to those lenders. lenders.

This subclass, estimated at around 17,000 members, is a far cry from the estimated 560,000 members of the certified class in February 2016, which included all Californians …

Stay one step ahead

In the legal profession, information is the key to success. You need to know what’s going on with customers, competitors, practice areas, and industries. Law360 provides the intelligence you need to stay an expert and beat the competition.

  • Access to case data in articles (numbers, filings, courts, nature of prosecution, etc.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, requests, etc.
  • Create personalized alerts for specific case articles and topics and more!

TRY LAW360 FREE FOR SEVEN DAYS

About John McTaggart

Check Also

Personal loan ads on social networks

The past few years have been difficult for many Americans. Unfortunately, trying to stretch every …

Leave a Reply

Your email address will not be published.