Case Number: No. 16-cv-4001
Practice Area: Consumer Protection
Case Status: Settled
Settlement Amount: $2 million
Court: United States District Court for the District of Minnesota
Berger Montague served as class counsel and obtained a $2 million settlement for Minnesota residents who took out a loan arranged by MoneyMutual, LLC. The plaintiffs, led by John Albanese of Berger Montague, alleged that the defendants, MoneyMutual, PartnerWeekly, LLC, and Selling Source, LLC, arranged illegal, high-interest online loans from unlicensed lenders for thousands of Minnesotans. The case was litigated in the United States District Court for the District of Minnesota and captioned Rilley v. MoneyMutual, LLC, No. 16-cv-4001 (D. Minn.).
The plaintiffs alleged that MoneyMutual advertised online and on television using celebrity spokesperson Montel Williams and the website moneymutual.com. The lawsuit alleged that MoneyMutual, PartnerWeekly, and Selling Source encouraged consumers seeking a short-term loan to visit MoneyMutual’s website and submit their name, address, banking information, and other personal information. The defendants then sold this information to their network of online lenders, many of which were unlicensed and charged usurious interest and illegal fees, violating Minnesota law.
On August 30, 2017, Judge Donovan Frank of the United States District Court for the District of Minnesota denied in large part the defendants’ motion to dismiss, and on January 11, 2019, certified the following class:
All individuals residing in Minnesota who (1) received a loan from a lender of $1,000 or less, (2) that required a minimum payment within 60 days of loan origination of more than 25 percent of the principal balance, (3) by using moneymutual.com or any MoneyMutual-branded website, (4) from August 1, 2009 through the date of this Order.
The district court granted final approval of the $2 million settlement in 2020.
If you have been the victim of consumer fraud or unfair or deceptive business practices, please contact Berger Montague.
About Berger Montague
Berger Montague is a national law firm focusing on complex civil litigation in federal and state courts throughout the United States. For over half a century, Berger Montague has played lead roles in consequential, precedent-setting cases and has recovered over $50 billion for its clients and the classes they have represented. Berger Montague is headquartered in Philadelphia and has offices in Chicago, Minneapolis, San Diego, San Francisco, Toronto, and Washington, D.C.