February 25, 2025
A California federal judge has granted class certification to consumers suing GreenSky Inc. over alleged unlawful loan transaction fees, finding that expert analysis showed merchants likely passed these fees onto borrowers, but also granted summary judgment to the lending company on claims related to performance fees over the lack of evidence that consumers had to pay them.
U.S. District Judge Jacqueline Scott Corley issued an order last month that was made public on Monday. She granted class certification to all California-based individuals who secured a Greensky Consumer Program loan between Jan. 9, 2016, and the present, for which the loan principal amount was $500 or higher and the associated transaction fee was at least 1% of the loan principal amount.
The judge granted certification after finding that the proposed class met all the necessary requirements, including numerosity, typicality and adequacy.
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The class is represented by David Stein, Amanda M. Karl, Delaney Brooks and Brian Johnson of Gibbs Law Group LLP, Geoffrey Graber, Madelyn Petersen and Mark Vandenberg of Cohen Milstein Sellers & Toll PLLC, Bryce Bell and Andrew R. Taylor of Bell Law LLC and Daniel T. LeBel of Consumer Law Practice of Daniel T. Lebel.