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Online loan servicer facing CFPB lawsuit settles separate New York case
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Consumer Protection, Nonbank Financial
Wednesday, January 29, 2014
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An embattled tribal lender, as well as an online loan servicer currently facing a Consumer Financial Protection Bureau lawsuit, reached a settlement agreement with New York’s attorney general. Western Sky Financial LLC, CashCall Inc., WS Funding LLC, and their owners, Martin Webb and J. Paul Reddam, allegedly violated New York’s usury and licensed lender laws in connection with personal loans they made over the Internet. Read on to learn about the case and the terms of the settlement.
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