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Truth in Lending

Payday loan companies are known for their very high interest rates and their ability to trap consumers into loans that are very difficult to pay off. The complaint for this class action alleges that Activehours, Inc., which does business as Earnin is a payday lender, but uses different terms in its business that it hopes will let it circumvent lending laws.

First Citizens Bank Headquarters in Columbia, South Carolina

Plaintiffs Michael Virzi and Natasha Brenchak wanted a mortgage approval. What they got, this complaint says, is that plus three false credit accounts they had specifically declined. Then they went through the difficulties of trying to get the accounts deleted. The complaint claims that the bank has violated the Fair Credit Reporting Act (FCRA), the Equal Credit Opportunity Act (ECOA), and the Truth in Lending Act (TILA), among other things.. 

Equitable Acceptance Corporation Logo

Plaintiff Vanessa Williams took out student loans totaling approximately $21,000 for her education. When SLF Center called her and told her it could obtain loan forgiveness for her, she was naturally interested. But according to the complaint for this class action, all that happened was that Williams was saddled with yet another loan, via Equitable Acceptance Corporation (EAC). 

Bank of America Branch Sign

Bank of America is paying nearly $42 million to settle claims that it violated the Servicemembers Civil Relief Act, the Truth in Lending Act, North Carolina’s Unfair and Deceptive Trade Practices Act, as well as common law, by charging service members and their families excessive interest rates on mortgages, credit card accounts, and other interest-bearing obligations, and by attempting to hide

Mississippi Iron Works Image

According to the complaint for this class action, when plaintiff John Edward Meeks agreed to take out a loan for new window and door home protection from Mississippi Iron Works (MIW), he had no idea that what he was doing was applying for a Wells Fargo credit card—specifically the Wells Fargo Home Projects Credit Card. The complaint alleges that, as a standard practice, the salesperson fills out the paperwork, and claims this is done as a deliberate deception, so that the consumer never learns the details of what he’s actually applying for. The complaint further says that Wells Fargo reports the credit cards as open-ended, revolving credit accounts, which may harm the credit histories of consumers. Among the complaint’s allegations are violations of RICO laws and the Truth in Lending Act.

Image of Loan

Plaintiff John Underwood served in the US Air Force for twenty-three years and retired disabled on a pension in 2010. Looking for a cash advance, the complaint for this class action says, he found Future Income Payments (FIP), which in 2012 agreed to give him $10,000 in exchange for Underwood’s transfer of some of his pension to FIP for sixty months. The complaint says that the assignment of a military pension or military disability benefits is forbidden by law, but FIP tries to get around this as well as its usurious interest rates by claiming that the transaction is not a loan but a “purchase and sale” of a “future income stream.”

Truth in Lending Act

The complaint for this class action asserts that the defendants—Wells Fargo, Windows USA, and a company related to Windows—used unfair pressure tactics and outright misrepresentations to lure potential customers in to signing agreements, related to window replacements and their financing, that did not provide what they were said to provide.