Rewards Network Inc.

Dallas, TX: (Aug-03-07) A class action lawsuit was brought against Chicago-based Rewards Network Inc., accusing it of running a loan sharking scheme by structuring deals that had in some cases, restaurants paying an annual interest rate of 419%. The suit, filed in the US District Court of the Central District of California, reached a settlement in which the company agreed to pay $30 million to resolve allegations. Publicly traded Rewards Network, which offers cash advances along with marketing, customer demographic data, and listings in an online restaurant directory, agreed that it was acting lawfully and settling was the right thing to do. Legal counsel stated that the settlement is worth about $64 million, once payments that Rewards Network would have received from the California merchants covered in the settlement, are added in. [DALLAS NEWS: LOAN SHARK]

Legal Help

If you have a similar problem and would like to be contacted by a lawyer at no cost or obligation, please click here to fill in our form.

Add Your Comment on This Issue

Fields marked * are mandatory. Please read our comment guidelines before posting.


Note: Your name will be published with your comment.

*Email Address:

Your email will only be used if a response is needed.

*Your Comment: