Topic
Predatory Lending
93 published works
Consumer Financial Services Law Monitor
Washington DFI Proposes Detailed Predominant Economic Interest and Totality of the Circumstances Tests Under the Consumer Loan Act
By Caleb Rosenberg, Taylor Gess, Colin Wilson
On October 23, the Washington Department of Financial Institutions (DFI) filed a new notice of proposed rulemaking implementing the Predatory Loan Prevention Act (PLPA). The PLPA added anti-evasion provisions including…
Nonprofit Law Prof Blog
Foohey, Forgive Us Our Debts: How Black Churches Use Bankruptcy to Survive
Pamela Foohey has published Forgive Us Our Debts: How Black Churches Use Bankruptcy to Survive with the University of Chicago Press. Here is the description: A revelatory study of how…
Consumer Financial Services Law Monitor
Colony Ridge Settlement: DOJ Bypasses Court Oversight After Judge’s Objections
By Brooke Conkle, Lori Sommerfield, Chris Willis
As reported by Law360, the U.S. Department of Justice (DOJ) has decided to move forward with its $68 million settlement with Colony Ridge Development LLC without seeking court approval or ongoing judicial…
Regulatory Oversight
Colony Ridge Settlement With Texas and US Department of Justice Reflects Shift in Enforcement Priorities
By Troutman Pepper Locke State Attorneys General Team, McKayla Riter
On March 6, 2026, a U.S. district court will consider whether to approve a settlement agreement resolving parallel lawsuits by the Texas attorney general (AG) and the federal government against…
Consumer Financial Services Law Monitor
DOJ and Texas Reach No‑Penalty Settlement with Colony Ridge Over Alleged Predatory Mortgage Financing, Discriminatory Land Sales
By Brooke Conkle, Lori Sommerfield, Chris Willis
In December 2023, we blogged about lawsuits filed by the Consumer Financial Protection Bureau (CFPB or Bureau), the U.S. Department of Justice (DOJ), and later the State of Texas against…
Consumer Finance Monitor
Justice Department and State of Texas settle allegations against Colony Ridge
By Richard J. Andreano, Jr., John L. Culhane, Jr.
The Justice Department and State of Texas recently entered into a settlement agreement with Colony Ridge Development, LLC and related entities (Colony Ridge) to settle allegations that Colony Ridge violated…
Legal Profession Blog
From Dupe To Reckless To Wilfull Blindness
The Ontario Law Society Tribunal Hearing Division has found misconduct and scheduled a penalty hearingThis conduct application deals with the troubled intersection of notices of security interests (NOSIs) with high-interest,…
Consumer Finance and Fintech Blog
Second Circuit Upholds Reverse Redlining Verdict Against Mortgage Lender
By A.J. Dhaliwal, Mehul Madia, Brandon Mohamad*
On February 14, a divided Second Circuit panel upheld a 2016 jury verdict which found that a mortgage lender violated, among other laws, the Equal Credit Opportunity Act (“ECOA”) by…
Consumer Finance and Fintech Blog
New York AG Reaches $1 Billion Settlement with ‘Predatory’ Lender
By A.J. Dhaliwal, Mehul Madia, Maxwell Earp-Thomas
On January 22, New York Attorney General Letitia James announced a $1 billion settlement with a now defunct cash advance firm and its officers. The settlement resolves allegations that the firm…
Global Fintech & Digital Assets Blog
NY Attorney General Secures $1 Billion-Plus Judgment for Illegal Loans Misrepresented as Merchant Cash Advances
The NYAG’s action highlights various pitfalls in the MCA space, underscoring the importance of proper structuring and marketing of merchant cash advances. By Parag Patel, Mik Bushinski, Connor Jobes, and Deric…