Gibbs v. Rees and TCV – $50 million settlement

CLA represented a national class of consumers who borrowed money at what they believed were legal rates because of the lenders’ supposed alignment with American Indian Tribes. CLA and its co-counsel were successful in challenging the legality of the loans, resulting in the Defendants paying $50 million in cash to reimburse class members, voiding the illegal loans, and agreeing not to try to collect on the illegal loans.