California High Court Holds CashCall’s Interest Rates Were Unconscionable

Mealey's (August 14, 2018, 1:27 PM EDT) -- SAN FRANCISCO — The California Supreme Court on Aug. 13 held that high interest rates on consumer loans issued by CashCall Inc. violated California finance law and that the borrowers stated a claim under California’s unfair competition law (UCL) based on their allegation that an interest rate on the loan of at least $2,500 was unconscionable (Eduardo De La Torre, et al. v. CashCall Inc., No. S241434, Calif. Sup., 2018 Cal. LEXIS 5749)....