November 1, 2023 (ST. PAUL). Today, Minnesota Attorney General Keith Ellison announced his office has filed a federal lawsuit against individuals that control online lenders Bright Lending, Green Trust Cash, and Target Cash Now for usurious lending and consumer fraud. The three online lenders, operating jointly under control of a single entity called the Island Mountain Development Group, issued thousands of loans to consumers in Minnesota that charged between 400 and 800 percent annual interest, in violation of Minnesota’s usury laws and other federal laws.
DES MOINES— Today, Iowa Attorney General Brenna Bird announced a settlement with Summit Software Systems, Inc. and its owner Robert Boligan for their deceptive business practices. The Attorney General’s office alleged that the company used deceptive methods to solicit Iowa homeowners facing foreclosure and failed to provide the services they promised.
Small businesses are increasingly turning to credit cards as a key source of funding as they continue to grapple with still-high inflation and rising borrowing costs.
The Federal Reserve Board, FDIC, and OCC issued a final rule amending their regulations implementing the Community Reinvestment Act (CRA).
The Federal Trade Commission is sending nearly $7 million in refunds to consumers who paid for health insurance but instead got medical discount plans pitched by Consumer Health Benefits Association (CHBA).
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