Tremont Financial LLC Reaches Preliminary Settlement in Consumers Loans Class Action

Tremont Financial LLC Reaches Preliminary Settlement in Consumers Loans Class Action

Tremont Financial LLC has reached a preliminary settlement in relation to a class action suit brought by University of Wisconsin Law School Students and the school's Consumer Law Litigation Clinic.

The settlement requires the internet payday lender to release 137 class action members from loan obligations incurred from loans received by the class action members between November 1 2004 and December 20, 2007. As well, the company must pay $60,000 in restitution.

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Published on Aug-7-08