Bloomberg BNA Reports Eleventh Circuit Blocks Bank's Bid to Force Arbitration of Payday Loan Suit

From Bloomberg BNA Banking Daily

by Chris Bruce

A federal appeals court has given new life to a lawsuit that claimed First Premier Bank of South Dakota violated federal anti-racketeering laws by facilitating illegal online lending (Flagg v. First Premier Bank, 2016 BL 50321, 11th Cir., 15-cv-14052, unpublished 2/23/16).

"While we are not suprised with this ruling, we are certainly pleased that the Eleventh Circuit Court of Appeals has affirmed the district court's denial of the defendant's motion to compel arbitration, and we look forward to litigating this class-action case on the merits," Stueve Siegel Hanson  Attorney Darren Kaplan told Bloomb BNA.

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