in Newswire April 26, 2018

Kabbage, Inc. Accused of Engaging Celtic Bank in Illegal ‘Rent-a-Bank’ Lending Scheme

by Erin Gilmore

Last Updated on April 26, 2018

Barnabas Clothing, Inc. et al. v. Kabbage, Inc. et al.

Filed: April 24, 2018 § 2:18-cv-03414

A proposed class action claims Kabbage, Inc. engages in an illegal 'rent-a-bank' scheme in which it hides behind Celtic Bank Corporation to evade California usury laws and charge small businesses an excessive amount of interest on short-term loans.

Law(s)

RICO

State(s)

California

Last Updated on April 26, 2018 — 4:04 PM

Erin Gilmore

erin@classaction.org

Erin works primarily on ClassAction.org’s newswire, reporting on cases as they happen. She is an honest writer, a faithful friend, and a mediocre bassist.

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