The Minnesota Court of Appeals March 31 upheld $7.76 million in damages and penalties against a Delaware payday lender, the latest of several moves by state authorities against online lenders that operate across state lines (State v. Integrity Advance, LLC).
Minnesota Attorney General Lori A. Swanson sued Integrity Advance LLC, a Delaware limited liability company that makes short-term loans through a website, saying the lender made loans to Minnesota residents without a license and violated Minnesota restrictions on interest rates.
Integrity Advance appealed after a trial court ruled for the state on summary judgment, saying material facts were ...
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