Tag

High Interest Loans

All articles tagged with #high interest loans

"California Billionaire's $175 Million Bond for Trump's Fraud Case Rejected, Raises Legal Questions"

Originally Published 1 year ago — by The New York Times

California billionaire Don Hankey, known for offering high-interest auto loans, provided a $175 million bond in Donald Trump's New York civil fraud case, helping him avoid financial disaster. Hankey's companies are known for offering risky and lucrative loans and aggressively repossessing vehicles from delinquent borrowers. Trump's appeal of the $454 million judgment against him led to the need for the bond, and Hankey's assistance could potentially influence federal regulation of his high-interest loan industry if Trump is elected again.

nation business business don-hankey donald-trump financial-assistance fraud-case high-interest-loans

"New York Attorney General Sues Cash-Advance Operation for Predatory Lending Practices"

Originally Published 1 year ago — by The Associated Press

New York Attorney General Letitia James has filed a lawsuit against Yellowstone Capital and related companies, alleging that they exploited struggling small businesses by issuing fraudulent loans at interest rates as high as 820%. The operation, which allegedly rebranded as Delta Bridge, continued issuing illegal loans disguised as merchant cash advances, resulting in severe financial challenges for the affected businesses. James is seeking at least $1.4 billion for the impacted small businesses and is also asking for a court order to bar the companies and their affiliates from continuing the operation.

business legalcrime high-interest-loans lawsuit legalcrime new-york predatory-lending small-businesses