9th Circ. Upholds $1.3B Award Over Payday Loan Scheme

Law360 (December 3, 2018, 8:15 PM EST) -- A Ninth Circuit panel on Monday upheld a $1.3 billion award against pro race car driver Scott Tucker's loan companies, rejecting his arguments that his customers would not have been deceived by the loan terms because he included fine print clarifying the payment schedule.

U.S. Circuit Judge Diarmuid F. O'Scannlain wrote in the published opinion that under the consumer-friendly standard adopted by the court, the Federal Trade Commission did not need to prove that actual deception had occurred, but only that the representation of the loan terms was likely to deceive.

In October 2016, U.S. District Judge Gloria Navarro found a number of...

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