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Think Finance signs $44.5 million deal to end class usury claims

By Judith H. Taylor
By Joyce Hanson (February 11, 2022 10:06 pm EST) – Consumers who had sued the owners of now-defunct payday lender Think Finance asked a federal judge in Virginia on Thursday for a $44.5 million settlement to sign resulting from the company’s claims used Native American-owned firms as fronts to charge excessively high interest rates.

The proposed class, led by named plaintiff Darlene Gibbs and a dozen other consumers, told US District Judge M. Hannah Lauck that the deal involved the case in relation to a complex lending company that allegedly violated state and federal laws, will largely end online, short-term loans with triple-digit interest rates.

“If approved, this settlement will…

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Judith H. Taylor
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