Case Details for "Arrowhead Investments Inc"

Arrowhead Investments Inc resolves class action lawsuit

The state Wisconsin Justice Department has settled a class-action lawsuit against Arrowhead Investments Inc. which alleged more than half-a-dozen violations of state law. The allegations ranged from not allowing customers to pay down loans in anything other than $50 increments to not including the proper disclosures in customers' loan agreements.

The settlement calls for Arrowhead to pay $145,000. The Justice Department says that money will cover restitution to as many as 1,300 consumers and legal fees.

All loans to Wisconsin consumers will be forgiven and the company won't loan any money to Wisconsin residents over the Internet for five years.

Posted on:2009-07-29
Company: Arrowhead Investments Inc
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Scope: Wisconsin
Type of Case: Consumer
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A copy of the Consent Judgment detailing the terms of the settlement is available at: http://www.doj.state.wi.us/news/files/SignedConsentJudgment.pdf. The court's Order preliminarily approving the settlement can be found at: http://www.doj.state.wi.us/

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