Predatory lenders to pay $1 million to soldiers

[unhappycamper]

Predatory lenders to pay $1 million to soldiers
The Associated Press
Posted : Thursday May 20, 2010 16:09:07 EDT

NASHVILLE, Tenn. — Tennessee Attorney General Bob Cooper says North Carolina-based financial companies accused of predatory lending practices against Fort Campbell soldiers will have to pay them more than $1 million.

A news release said Montgomery County Circuit Court Judge Ross Hicks on Thursday granted the request for judgment in favor of about 615 soldiers once stationed at the installation on the Tennessee-Kentucky state line.

The state originally filed the lawsuit in 2005. The judgment also requires Britlee Inc., Millenium Finance Inc. and their owner, Stuart L. Jordan, to stop all collections and clear credit bureau records for the soldiers’ accounts.

The businesses operated under the names The Military Zone and Laptoyz Computers and Electronics.