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BRIEF-RD Legal Funding is sued by US CFPB, NYAG over advances to 9/11 victims, NFL retirees
February 7, 2017 / 5:07 PM / in 8 months

BRIEF-RD Legal Funding is sued by US CFPB, NYAG over advances to 9/11 victims, NFL retirees

Feb 7 (Reuters) -

* Rd legal funding llc is sued by u.s. Consumer financial protection bureau, new york attorney general -- court filing

* Lawsuit accuses rd of engaging in deceptive and abusive acts in extending credit to people awaiting payouts from settlement funds

* Lawsuit contends that rd’s transactions are loans at usurious interest rates, and therefore are void

* Lawsuit says rd advances money to first responders to 9/11 attacks, as well as to former national football league players with brain injuries

* Lawsuit says consumers often end up paying back more than twice as much as the sums they are given upfront

* Among the other defendants is roni dersovitz, who the lawsuit says is the founder and owner of rd

* Lawsuit seeks restitution for consumers, civil fines, and the voiding of various transactions between rd and consumers

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