A debt collection company must face a class action accusing it of charging interest rates that are criminally usurious in New York state.
Southern District Judge Cathy Seibel ruled Monday that New York law controls—in the case of debtor Saliha Madden, who is seeking damages and injunctive relief under the Fair Debt Collection Practices Act—against a company that charged her an effective annual percentage rate of 32.24 percent.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
