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HARRISBURG — Attorney General Josh Shapiro today announced funds with Think Finance, a national online payday lender, and an associated personal equity company for presumably engineering a $133 million unlawful pay day loan scheme that targeted as much as 80,000 Pennsylvania customers.
The settlement will void all balances that are remaining the unlawful loans, Shapiro’s statement stated. Pennsylvania is amongst the leading creditors that negotiated this comprehensive settlement with Think Finance included in its bankruptcy plan, which will be pending approval ahead of the Bankruptcy Court and subsequent approval by the U.S. Eastern District Court of Pennsylvania.
In late 2014, the Pennsylvania workplace of Attorney General sued Think Finance, Inc. and chicago-based equity that is private Victory Park Capital Advisors, LLC, as well as other affiliated entities. The suit alleged that between 2011-2014, three internet sites operated by Think Finance — Plain Green Loans, Great Plains Lending and Mobiloans —allowed borrowers to join up for loans and personal lines of credit while recharging interest that is effective up to 448 per https://autotitleloansplus.com/payday-loans-nh/ cent. (далее…)