CA Supreme Court: Courts Can Now Determine if Borrowers’ Long-term Payday and Car Title Loans is "Unconscionable"
OAKLAND, CALIF. – Today, the California Supreme Court ruled in favor of the plaintiffs in De La Torre v. CashCall, that high-interest rates on loans above $2,500 may be deemed unconscionable, and therefore illegal—even if those loans aren’t subject to statutory rate limits. The case involved plaintiff Eduardo De La Torre, a former student at the University of California Davis...