Nationwide Settlement Proposed In Payday Lending Suit Against Tribal Entities

(April 27, 2022, 1:34 PM EDT) -- RICHMOND, Va. — Four tribal payday loan businesses and their non-Indian officers have agreed to pay more than $39 million and cancel approximately $450 million in outstanding loans to settle class action usury and racketeering claims, the plaintiff borrowers in the suit say in an April 25 motion in Virginia federal court for preliminary approval of the deal for a settlement class of more than 500,000 members....