Consumer Bureau Nears Settlement With Payday Lender Think Finance

The Consumer Financial Protection Bureau and a Montana-based payday lender are nearing a settlement, the two sides said in a Nov. 16 court filing.

The CFPB and Think Finance LLC asked Judge Brian Morris of the U.S. District Court for the District of Montana to put a 60-day stay on discovery in the case because they are closing in on a settlement to resolve the bureau’s claims that the company engaged in unfair, deceptive or abusive practices toward its borrowers.

The bureau alleged that Think Finance improperly collected on payday loans that were improperly issued in states where the small-dollar, ...