Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Opus Bank (“Opus Bank” or the “Company”) (NASDAQ:OPB) in the United States District Court for the Central District of California on behalf of purchasers of Orbital common stock between securities between July 28, 2014, and October 17, 2016, inclusive (the “Class Period”), seeking to …
Lundin Law PC , a shareholder rights firm, announces a class action lawsuit against Opus Bank (“Opus Bank” or the “Company”) (Nasdaq: OPB) concerning possible violations of federal securities laws between July 28, 2014 and October 17, 2016 inclusive (the “Class Period”). Investors who purchased or otherwise acquired shares during the Class Period should contact …
The complainant is Taylor, Bean & Whitaker (TBW), which was a top-10 wholesale mortgage lending firm. The trustees of the company are accusing PwC of negligence in their audits of TBW’s lender, Colonial Bank. In an agreement between the top management of the borrower and the bank, starting from 2002, TBW chairman Lee Farkas sent mortgage data to Colonial Bank for fake loans or those the company …
Cash Zone store that operated at 8923 Culebra Road. In a 2-1 opinion, the 4th District Court of Appeals ruled that payday-loan customers must use arbitration instead of the courts if they think a lender illegally used the criminal justice system to pursue unpaid loans. Cash Zone store that operated at 8923 Culebra Road.
A successful class action lawsuit against two payday loan companies in Ontario has concluded. Now, the challenge is to find the recipients of the $10 million dollar settlement. There are potentially 100,000 claimants across the province, including in Sudbury.
When Jane C. Forrester Winne’s federal student loans were dismissed after she became disabled because of complications from diabetes in 2011, she believed all the money she borrowed between 1980 and 2008 to attend the University of Maine had been accounted for and that she was free and clear of debt. Three years later, Forrester Winne, 64, of Orono began getting letters and …
Renaud Laplanche stepped down last Friday, the online lender announced today. According to an internal investigation, Laplanche had improperly managed $22 million in loan sale agreements in March and April. Three additional senior executives resigned or were fired.
A proposed class action against LendingClub Corporation is credit negative for asset-backed securities (ABS) backed by consumer loans originated through online platforms using a partner bank origination model, Moody’s Investors Service says in a new report. The lawsuit confirms that the owners of such loans face legal challenges over whether the loans are exempt from …
Ross MacDonald
One spring evening in 2012, after getting off a shift at Señor Frog’s bar and grill in Las Vegas, Candice Smith drove to the Palace Station casino to cash her paycheck. When she returned to her car, it wouldn’t start. She knew what the problem was: the starter kill switch her lender had installed on the vehicle.
Regulators don’t like the unregulated, and in what some would term, “the CFPB inviting more into its boat to be bashed with oars,” it announced it is accepting complaints from consumers encountering problems with loans from online marketplace lenders. “The Bureau is also releasing a consumer bulletin that provides an overview of marketplace lending and outlines tips for consumers who are …