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Consumer Lending

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District Court (Cal.) Rejects CLRA Claim Against Loan Broker for Fees Allegedly Baked Into Higher Charges to Consumers; Finds Issue Under UCL

by Scott J. Hyman |

In ELIZABETH BELYEA, et al., Plaintiffs, v. GREENSKY, INC., et al., No. 3:20-CV-01693-JSC, 2023 WL 8701311, at *1 (N.D. Cal. Dec. 15, 2023), Judge Corley dismissed a CLRA claim against a loan broker.  The facts were as follows: GreenSky is a “loan broker and sometimes-lender” that brokers loans for consumers “to pay for home improvement, home repair, and healthcare costs,”… Read More

District Court (Cal.) Finds Consumer Loans Violated EFTA/UCL Because Loans Were Conditioned on Consent to Automatic Withdrawal from Checking Account; Denied Defendant’s MSJ that its Loans Were Not Unconscionable

by Scott J. Hyman |

In de la Torre v. CashCall, Inc., --- F.Supp.2d ----, 2014 WL 3752796 (N.D.Cal. 2014), Judge James granted partial summary judgment to class-action Plaintiffs on their allegation that CashCall’s the loans violated the UCL because they were conditioned on the debtors were required to check a box indicating that they authorized CashCall to withdraw their scheduled loan payments from their… Read More

District Court (Cal.) Refuses to Certify Spanish Language Class arising from Pay Day Loan Issues

by Scott J. Hyman |

In Stone v. Advance America, 278 F.R.D. 562 (S.D.Cal. 2012), Judge Battaglia refused to certify a class of payday loan customers who claimed that the defendant violated the California Deferred Deposit Transaction Law (“CDDTL”) Cal. Fin.Code § 23005 in its dealing with Spanish-speaking customers.  Judge Battaglia found that whether the customers primarily spoke Spanish in their respective transactions lead to… Read More

California Department of Corporations Proposes Revisions to Finance Lenders’ Law Regulations; Commentary to Proposed Regulations Due January 28, 2013

by Scott J. Hyman |

The California Department of Corporations proposed new Finance Lender Law regulations.  Attached are copies of the CDC Notice of Rulemaking Action re CFLL Regulation, CDC Statement of Reason re CFLL Regulation, and CDC Text of Proposed CFLL Regulations.   Licensees have an opportunity to provide comments which are due no later than 5 PM, January 28, 2013.  A request for a hearing may also be made in writing… Read More