California Court Opens Payday Lenders to Lawsuits
Suing Payday Lenders in California
Yes! Yassss! We can now sue payday lenders in California.
I can hear you – “so what?”
This is a big deal. Formerly, payday lenders in California have been hiding behind a loose and convenient association with local native American tribes, and the payday lenders have claimed tribal immunity from California law.
In a recent decision, a California court ruled that the payday lenders are subject to California law.
I see clients in my practice every day who have been taken advantage of by the exorbitant interest rates charges by these companies – often 195% annually, or even more.
This decision against payday lenders appears to open the door for us to sue them under the Fair Debt Collection Practices act, and/or its’ California cousin, the Rosenthal Fair Debt Collection Practices Act.
If you believe you have been subjected to abusive lending or collection practices by a California payday lender, please contact me and we can evaluate your situation – no charge, of course. And I’m a relatively friendly lawyer. You might even enjoy talking with me.