The California Supreme Court has unanimously ruled the state can enforce against interest rates that are too high on loans that are above the current statutory standard.
A class action lawsuit was filed in the federal district court for the Northern District of California against lender CashCall, Inc., on behalf of borrowers who took out loans of at least $2,500 at an interest rate of 90 percent or higher.
Read on for details of the Supreme Court’s opinion.
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