CashCall To Pay $3M To Settle DC Payday Lending Suit

Law360, New York (January 11, 2017, 4:08 PM EST) -- Payday loan servicer CashCall Inc., its owner and a subsidiary have agreed to pay nearly $3 million to resolve allegations they offered loans with illegally high interest rates while claiming to be shielded by tribal sovereign immunity, the District of Columbia's attorney general said Wednesday.

D.C. Attorney General Karl A. Racine said in a statement that the district had reached an agreement for California-based CashCall, owner J. Paul Reddam and WS Funding LLC to return payments of over $1.8 million that were made by D.C. consumers,...
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