Minto Money Lending
Overview
Injury: Predatory lending practices
Defendant: Minto Money and its business partners
Practice: Class Action
Latest Update: November 2025 – Wallace Miller files briefs in opposition to defendant motions.
The defendants have filed motions to compel arbitration and dismiss or strike the plaintiffs’ class allegations. The team at Wallace Miller filed their briefs in opposition to these motions in mid-October and the federal judge will now consider the motions and come to a decision.
We’re hopeful that the case will proceed on behalf of our clients and consumers across the country who have suffered from Minto Money’s predatory lending practices.
Case Team
PARTNER
Mark R. Miller
LEAD ATTORNEY
Matthew J. Goldstein
ATTORNEY
Julia Ozello
CONTACT PARALEGAL
Monica Raatz
CONTACT LEGAL ASSISTANT
Susane Marangoni Molina
Minto Money Class Action Lawsuit: What You Can Do About Predatory Lending
Across the United States, predatory lenders make short-term, high-interest loans to consumers in financial need. These loans are designed to—and often do—trap consumers in a cycle of debt while the illegal lending company and its business partners and investors rake in enormous profit. However, under state usury, licensing, and consumer protection laws, many of these loans are illegal and void.
Injury
Wallace Miller filed a class action lawsuit on behalf of five of its clients who received a predatory and unlawful loan nominally made by Minto Money. The lawsuit, Boddie, et al. v. McGraw, et al., is pending in the U.S. District Court for the Northern District of Illinois. If you’ve received a loan from Minto Money, you may be eligible to join the lawsuit and fight for compensation.
Not sure if you qualify? Reach out to the dedicated team at Wallace Miller at (312) 467-7362 or via our online questionnaire. We’ll help you assess your case and discuss if a lawsuit may be the best path forward.
Photo © by kenteegardin is licensed under CC BY-SA 2.0.
Plaintiff & Defendant
Protecting Illinois consumers from payday loan companies
In an effort to protect consumers from usurious loans (or loans made at unreasonably high interest rates) the Illinois General Assembly passed the Illinois Predatory Loan Prevention Act (PLPA) in 2021. The PLPA is designed to stamp out predatory loans and protect borrowers by prohibiting a lender from making a loan to an Illinois resident at an interest rate higher than 36%.
Loans made in violation of the PLPA are null and void, and no person or entity has any right to collect, attempt to collect, receive, or retain any money from the borrower related to such loan. In other words, if entities collect money from a consumer on an illegal loan, they must give the consumer their money back.
Loans made by an unlicensed lender—like Minto Money—to an Illinois resident at an interest rate greater than nine percent also violate the Illinois Interest Act, which permits a consumer to recover statutory damages of twice the interest contracted for—a serious penalty. Illinois means business when it comes to protecting its citizens from usurious loans: it is a felony for an unlicensed lender to make a loan at an interest rate exceeding 20 percent. The interest rates on loans made by Minto Money all exceed 300 percent, and Minto Money is not licensed by the State of Illinois to make loans.
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Landscape
What can consumers do about payday loans?
Loans like those made by Minto Money or other predatory lending companies are illegal in almost every state. If a court determines that your loan violates state law, you may not have to pay it back. In fact, consumers who have been targeted by this type of lending practice may be able to recoup the money that they lost, in addition to other damages.
A class action lawsuit allows people harmed in similar ways to file a combined lawsuit. The group of plaintiffs, called the “class,” is represented legally by one or a few individuals. This allows many cases against a defendant or group of defendants to be decided more fairly and efficiently.
To create this type of litigation, attorneys for the plaintiffs will ask a judge to “certify” the class, or formally decide that the class can bring their suits as a class action.
Timeline
11.2025
Wallace Miller files briefs in opposition to defendant motions.
The defendants have filed motions to compel arbitration and dismiss or strike the plaintiffs’ class allegations. The team at Wallace Miller filed their briefs in opposition to these motions in mid-October and the federal judge will now consider the motions and come to a decision.
We’re hopeful that the case will proceed on behalf of our clients and consumers across the country who have suffered from Minto Money’s predatory lending practices.
05.21.2025
Recent Wallace Miller filing highlighted in ProPublica.
Wallace Miller is proud to be leading the charge against powerful individuals and companies seeking to profit from others’ financial need. Our recent filing against Minto Money and other defendants has been highlighted by ProPublica—read more on their website.
05.16.2025
Wallace Miller files new class action against Minto Money.
Wallace Miller attorney Matthew J. Goldstein has filed a new class action case against predatory lender Minto Money and its business partners on behalf of three plaintiffs. These plaintiffs claim that the defendants violated state usury and consumer protection laws as well as the Racketeer Influenced and Corrupt Organizations Act (RICO), a federal statute, when they made and collected usurious loans (loans made at unreasonably high interest rates).
The consumer protection team at Wallace Miller intends to ask the district court to certify the case as a class action. We hope that this proposed class action will help individuals across the U.S. who have suffered from Minto Money’s predatory practices seek justice.
11.11.2024
Wallace Miller files class action against Minto Money.
Wallace Miller attorneys Mark R. Miller, Edward A. Wallace, and Matthew J. Goldstein filed a class action against Minto Money and others in the United States District Court for the Northern District of Illinois alleging that they have violated state and federal law. The plaintiffs will request that the District Judge certify the action as a class action.
2021
Illinois passes the Predatory Loan Prevention Act (PLPA), which sets an interest rate cap of 36% on loans made by licensed lenders. Loans made in violation of the PLPA are void.
1968
The Truth in Lending Act provides the first standardized requirements for presenting loan information to consumers.
