Georgia AG reaches $40 million settlement with online payday lender

CashCall Georgia On February 9, the Georgia Attorney General’s Office issued a press release announcing that it reached a settlement with online payday lenders Western Sky Financial, CashCall and affiliates (Defendants). The settlement resolved the Georgia AG’s multi-year legal battle with the California-based online lender for charging illegal interest and fees under an alleged “rent-a-tribe” scheme.  


CashCall to pay $15 million settlement for illegal Virginia online lending scheme

CashCall lawsuitOn January 31, the Virginia Attorney General issued a press release announcing a settlement with CashCall, Inc., a small-dollar online lender that allegedly engaged in illegal lending practices.

According to the Virginia Attorney General’s complaint, CashCall engaged in a “rent-a-tribe” scheme, using a South Dakota company with a purported Native American tribe affiliation called Western Sky Financial, LLC as a front for marketing and offering high-cost installment loans.


What Trump’s regulatory moratorium means for CFPB payday rule

does freeze memo apply to payday ruleOn January 20, the Trump Administration issued a memo directing the recipients to freeze the review and final publication of pending regulations. The memo states, “send no regulation to the Office of the Federal Register (the “OFR”) until a department or agency head appointed by the President after noon on January 20, 2017, reviews and approves the regulation.” The memo clarifies that these instructions extend to “any substantive action by an agency (normally published in the Federal Register) that promulgates or is expected to lead to the promulgation


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