Cash advance organizations consent to spend $10M to stay lawsuits that are class-action

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Individuals who borrowed from cash advance businesses could possibly be lined up for money following the settlement of class-action legal actions initiated by way of a London law practice.

Harrison Pensa LLP announced the companies — formerly known as The Cash Store and Instaloans — and their directors targeted in the lawsuits had agreed to pay more than $10 million to people who had transactions on or after Sept. 1, 2011 thursday.

The deal would mean individuals who had a single transaction would receive a minimum payment of $75 if approved by the court. Continue reading