9th Circ. Judge Doubts CFPB's $200M CashCall Demand

Law360 (September 9, 2019, 9:38 PM EDT) -- A Ninth Circuit judge appeared skeptical Monday of the Consumer Financial Protection Bureau’s argument that a lower court erred by issuing a $10 million judgment against CashCall Inc. for deceptively collecting on illegal payday loans, instead of the over $200 million the agency sought.

During a hearing in Pasadena, California, U.S. Circuit Judge Ryan D. Nelson said CashCall and its executives didn’t know from the outset that they were being deceptive in trying to collect loans, and therefore CashCall’s civil damages and liability is on a "sliding scale."

“It does strike me we are on a sliding scale on how deceptive these were,”...

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