Festival of Books
Everything you need to know about the Festival of Books

Topics

Gary Coleman
N.Y. state accuses CashCall of loan abuses
N.Y. state accuses CashCall of loan abuses

NEW YORK — New York's attorney general has accused an Anaheim lender of illegally charging triple-digit interest rates on personal loans, then hounding borrowers to collect payments when they inevitably fell behind. The lawsuit, filed late Monday, alleges that CashCall Inc., a decade-old Internet lender well known from its ubiquitous advertising, charged as much as 355% in interest, far exceeding New York's civil and criminal usury limits of 16% and 25%, respectively. Also named as defendants are WS Funding, a CashCall subsidiary, and Western Sky Financial in South Dakota, as well as their owners, J. Paul Reddam of CashCall and Martin Webb of Western Sky. The suit...

Loading