By Emilie Ruscoe (April 20, 2022, 7:46 p.m. EDT) – An Indianapolis woman sued an internet lender and three of its directors, accusing them of making high-interest loans in violation of state loans, then claiming they had sovereign immunity from the Oglala Sioux tribe.
In plaintiff Karen Brown’s proposed class action lawsuit filed Tuesday, she claimed that when she borrowed $750 from defendant Fast Day Loans in January, the company told her that if she made weekly payments on her loans for nine months , she would pay $2,423.36 in interest – equal to an annual interest rate of 700.20%.
Under Hoosier State law, the maximum annual loan funding…
Stay one step ahead
In the legal profession, information is the key to success. You need to know what’s going on with customers, competitors, practice areas and industries. Law360 provides the intelligence you need to stay an expert and beat the competition.
Access to case data in articles (numbers, filings, courts, nature of lawsuits, etc.)
Access to attached documents such as briefs, motions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and more!