About
Important information
- Additional Info:The company's website states that Mariner Finance is "a wholly owned subsidiary of 1st Mariner Bancorp."
- Pending Government Action:Government Action: BBB reports on known government actions involving business’ marketplace conduct:Gov. Action
On 08/16/2022, Pennsylvania Attorney General Josh Shapiro announced today that he leading a multi-state lawsuit against Mariner Finance, LLC for allegedly widespread violations of consumer protection laws. The suit alleges that Mariner Finance charged consumers for hidden add-on products that consumers either didn't know about or didn't agree to buy. Mariner reportedly charged Pennsylvanians $19.5 million for these add-ons from 2015 to 2018 and charged another $8 million in interest over the same period. The lawsuit also alleges that Mariner Finance engaged in illegal, aggressive sales tactics to extend credit to new borrowers. Mariner Finance claims the products were required in order to obtain a loan. The lawsuit also alleges that Mariner Finance engaged in illegal, aggressive sales tactics to extend credit to new borrowers.
The multi-state lawsuit asks the court to order:
- Full restitution to all borrowers affected by Mariner's unlawful
practices.
- Repayment by Mariner of any unlawfully gained profits
Civil penalties.
- Rescission or reformation of all contracts or loan agreements
between Mariner and consumers affected by the company's
practices.
- Mariner to stop charging consumers for add-on products and cease
other allegedly harmful practices.
Borrowers who believe they have been deceived by Mariner's practices should file a complaint with the Bureau of Consumer Protection either online, by phone at 1-800-441-2555, or by email scams@attorneygeneral.gov.
Please note that this matter is pending. For more details, go to:
https://www.attorneygeneral.gov/taking-action/ag-shapiro-takes-action-to-defend-pennsylvanians-from-predatory-personal-lending-company/
Mariner Finance, LLC has provided the following statement in response to the lawsuit:
Mariner Finance has continuously disputed the claims that the small multi-state coalition has alleged and will continue to defend itself as an important provider of credit options to those who may have limited access to other sources of consumer credit. Mariner has been and continues to be committed to compliance with all state and federal regulations, holding itself to a high standard of customer care.
Over the course of nearly four years, Mariner has cooperated with the investigation and provided data, documents and testimony that clearly demonstrates the legality of its products and the vital support they provide to consumers. The states' allegations are based on minimal consumer interviews, the details of which were never shared with Mariner, and reflect a misunderstanding of the law, or simply a decision to ignore any evidence which negates their claims.
The Federal Trade Commission ("FTC") conducted a comprehensive two-year investigation of similar issues as have other state attorneys general, closing their investigations with no action taken. The signatories to this suit appear to give no weight to these investigations nor the regular state examinations that the company is subject to. A full and fair consideration of the investigation evidence should lead to this matter being immediately dismissed with no further action.
A copy of Mariner's press release is available here:
https://www.prnewswire.com/news-releases/mariner-finance-strongly-opposes-misguided-litigation-filed-by-the-pennsylvania-attorney-general-and-a-small-group-of-other-states-301607759.html
About This Business
https://www.bbb.org/greater-maryland/business-reviews/loans/personal-finance-company-in-nottingham-md-90285350?language=1
Products and Services
Business Details
- Local BBB:
- BBB of Greater Maryland
- BBB File Opened:
- 2/11/2005
- Business Started:
- 1/1/2002
- Type of Entity:
- Limited Liability Company (LLC)
- Alternate Names:
- Mariner Finance LLC (Corporate)
- Sunbelt Credit Holdings (NC & FL locations)
- Pioneer Credit Company
- Regency Finance Company
- Business Management:
- Josh Johnson, President/CEO
- Mr. James Schneider, COO
- Mr. Mark Keidel, CFO
- Tisha Brown, Customer Relations Manager
Additional Contact Information
- Principal Contacts
- Tisha Brown, Customer Relations Manager
- Customer Contacts
- Josh Johnson, President/CEO
- Mr. James Schneider, COO
- Mr. Mark Keidel, CFO
- Janet Smith, Executive Vice President
- Tisha Brown, Customer Relations Manager
- Eric Hembrick
- Fax numbers
- Primary Fax: (410) 558-4396
- Other Fax: (410) 677-0870
- Other Fax: (301) 722-3245
- Other Fax: (410) 288-6574
- Other Fax: (410) 761-1527
- Other Fax: (410) 496-4124
- Additional Phone Numbers
- Other Phone: (410) 677-3850
- Other Phone: (443) 438-2036
- Other Phone: (410) 288-2958
- Other Phone: (410) 761-1258
- Other Phone: (410) 496-4123
- Other Phone: (443) 438-2056
- Other Phone: (410) 686-4711
- Other Phone: (410) 770-9060
- Other Phone: (301) 722-3240
- Other Phone: (443) 640-0040
- Additional Email Addresses
- Complaint: Email this Business
- Inquiry: Email this Business
- Customer Service: Email this Business
Licensing information
This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.
Additional Information
- Referral Assistance
- Dept. of Labor, Licensing & Regulation: Division of Financial Regulation
500 N Calvert St Ste 402
Baltimore MD 21202
Phone Number: (410) 230-6100
http://www.dllr.state.md.us/finance/
finreg@dllr.state.md.us - Business Categories
- Loans, Financial Services, Mortgage Broker, Consumer Finance Companies, Investment Advisory Services, Banking Services
Industry Tip
More Resources
Featured Content
BBB Business Profiles may not be reproduced for sales or promotional purposes.
BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.
When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
BBB Business Profiles generally cover a three-year reporting period. BBB Business Profiles are subject to change at any time. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.
As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation. BBB charges a fee for BBB Accreditation. This fee supports BBB's efforts to fulfill its mission of advancing marketplace trust.