Petersen v. Chase Card Funding, LLC et al., Case No. 19-cv-00741 (U.S. District Court for the Western District of New York)
Cohen et al. v. CapitalOne Funding LLC et al., Case No. 19-cv-03479 (U.S. District Court for the Eastern District of New York)
CGL attorneys have filed cases on behalf of certain New York individuals paying interest above 16% on credit card loans. The cases allege that through the process of credit card securitization, the defendant non-bank entities have acquired “all right title and interest” in class members’ credit card receivables, and have violated New York’s longstanding usury law by charging, taking or receiving interest above 16%. The complaints seek disgorgement of wrongfully obtained interest charges and an order prohibiting these defendants from continuing to violate the New York law.