Contributors Shelton Sterling Laney III Associated

Writers: Sterling Laney, III; Erin Kubota

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 maybe more might be discovered unconscionable under part 22302 regarding the Ca Financial Code, despite not being susceptible to particular interest that is statutory caps. By its choice, the Court resolved a concern that has been certified to it because of the Ninth Circuit Court of Appeals. See Kremen v. Cohen, 325 F.3d 1035, 1037 (9th Cir. 2003) (certification procedure can be used because of the Ninth Circuit when there will be concerns presenting “significant dilemmas, including people that have crucial general public policy ramifications, and therefore have never yet been fixed by the state courts”).

The Ca Supreme Court unearthed that although California sets statutory caps on rates of interest for customer loans [...]