VPLC Receives $90,000 Cy Pres Award from Class Action Settlement Against Predatory Internet Lenders
Thursday, January 31st, 2019
Early this year, VPLC received a generous cy pres award—a distribution of money from a class action settlement to a nonprofit organization—from a class action lawsuit handled by Kelly & Crandall, PLC against internet lenders in Virginia.
About Cy Pres
When a class action lawsuit settles, it’s possible that not all of the money will be claimed by class members. Cy pres awards are a way for this extra money to be put to good use. Several courts and the Virginia Attorney General’s Office have directed cy pres awards to VPLC because of our work on behalf of Virginia’s low-income consumers.
Supporting Our Work
We at VPLC are grateful for this generous award and look forward to continuing our efforts to protect the rights of low-income Virginians. Specifically, we intend to use this award for our Predatory Loan Help Hotline and to help support VPLC’s new Consumer Advocacy Organizer. Special thanks to Kristi Kelly of Kelly & Crandall, PLC for her hard work on this case and to Leonard Bennett of Consumer Litigation Associates, P.C. for his ongoing work to stop illegal internet lending in Virginia.
If you have a predatory internet loan or know someone who does, contact us for help or tell us your story. Email [email protected] or call our Predatory Loan Hotline at (866) 830-4501.