Think Finance signs $44.5 million deal to end class attrition claims

By Joyce Hanson (February 11, 2022, 10:06 PM EST) – Consumers who sued the owners of now-defunct payday lender Think Finance on Thursday asked a federal judge in Virginia to approve a $44.5 million settlement of dollars arising from company claims used businesses owned by Native American tribes as fronts to charge excessively high interest rates.

The proposed group, led by plaintiff named Darlene Gibbs and a dozen other consumers, told U.S. District Judge Hannah Lauck that the settlement would largely end the case related to a complex lending business that allegedly violated state and federal laws by making online, short-term loans with triple-digit interest rates.

“If approved, this settlement…

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