EDWARDSVILLE — A woman claims a Missouri finance company is operating in Illinois without a license and charging consumers excessive interest rates.
Terrie Luster, individually and on behalf of all others similarly situated filed a complaint May 13 in the Madison County Circuit Court against JRE Financial LLC, doing business as AAA Community Finance, alleging engaging in business without a license, violation of the Illinois Consumer Installment Loan Act and the Illinois Consumer Fraud and Deceptive Business Practices Act and unjust enrichment.
According to her complaint, Luster was issued a $475 loan by AAA in August and was charged an annual percentage rate of 786.72%, which exceeds Illinois law. Luster also alleges AAA is operating in the state without a license from the Illinois Department of Financial and Professional Regulation.
Luster claims that when she was issued the loan, she was scheduled for 24 payments of $134.32 and one final payment of $128.82 for a total of $3,352.50. Luster claims she paid $1,400 on the loan before stopping payments on Aug. 11, 2020. AAA representatives allegedly began to send her text messages multiple times per week and sent letters in an effort to collect. She further claims AAA targets vulnerable consumers who have "immediate bills" and stating they will "help you through your time of need."
Luster seeks monetary relief, trial by jury and all other just relief. She is represented by Mark Goldenberg, Thomas Rosenfeld, Kevin Green and Zachary Shelton of Goldenberg Heller & Antognoli PC in Edwardsville.
Madison County Circuit Court case number 21-L-000585