This course continuing concerns alleged unlawful interest charged by nationwide cash Mart Co. (“Money Mart”) and its own moms and dad business Dollar Financial Group, Inc. (“Dollar Financial”) on “Fast Cash improvements” additionally known as “Payday Loans”. a short-term loan due on or ahead of the borrower’s next payday upon that your loan provider costs different costs and interest. It’s alleged why these costs constitute interest surpassing the allowable rate pursuant to section 347 regarding the Criminal Code.
On June 5, 2009, the events decided to money regarding the course action. On March 3, 2010, by written Reasons, the Honourable Mr. Justice Perell authorized the settlement. Continue reading “Cash Mart Class Action Smith et al National Cash Mart et al”