Debt Cos. hit by class action lawsuit for tribal loans

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Law360 (February 1, 2021, 9:37 p.m. EST) – A Pennsylvania woman has filed a class action lawsuit in federal court against two companies she says conspired with online lender American Web Loan to sell and collect debts for loans with illegally high interest rates.

Diana Butler said in her complaint Friday that Nevada-based debt broker Market View LLC, which operates the DebtTrader website, and New York-based debt collector Northwood Asset Management Group LLC, had acquired loans that they knew to be illegal from American Web Loan, which is owned by the Otoe-Missouria tribe of Oklahoma. AWL was not named as a defendant in the lawsuit.

According to the complaint, …

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