California Supreme Court Holds That Tall Rates Of Interest on Pay Day Loans Could Be Unconscionable

California Supreme Court Holds That Tall Rates Of Interest on Pay Day Loans Could Be Unconscionable

On August 13, 2018, the Ca Supreme Court in Eduardo De Los Angeles Torre, et al. v. CashCall, Inc., held that interest levels on customer loans of $2,500 or even more might be found unconscionable under area 22302 associated with California Financial Code, despite maybe perhaps perhaps not being susceptible to particular statutory interest caps. The Court resolved a question that was certified to it by the Ninth Circuit Court of Appeals by its decision. Continue reading “California Supreme Court Holds That Tall Rates Of Interest on Pay Day Loans Could Be Unconscionable”