PITTSBURGH - A company offering cash advances now faces class action litigation alleging its return on investment violates usury laws.
A lawsuit was filed July 10 in the Court of Common Pleas of Allegheny County against Bridge It, Inc.
Plaintiffs Richard Radomski, Kendall Kelly, and Dennis Coffman allege that the company’s cash advance product charges excessive fees resulting in annual percentage rates (APRs) as high as 439%, far exceeding Pennsylvania's legal limit of 6%.
The plaintiffs claim these fees are illegal under state law and seek to recover the unlawful charges. They also argue that Bridge It failed to disclose the true cost of its advances, leading consumers into a cycle of reborrowing and financial instability.
The case includes multiple counts, including violations of the Loan Interest and Protection Law, Consumer Discount Company Act, Truth-In-Lending Act, Electronic Funds Transfer Act, and Unfair Trade Practices and Consumer Protection Law.
Kevin Abramowicz of East End Trial Group represents the plaintiffs.