Cash Cash Cheque Cashing Inc. Class Action


Cash Cash Cheque Cashing Inc. Class Action

A course action is certified against money cash Cheque Cashing Inc. (“Cash Money”) by Kenneth Mortillaro, with respect to all people resident in Canada, (excluding British Columbia and Quebec, and excluding the Defendant, its officers, directors, or affiliated businesses) whom obtained one or more payday loan(s) from money cash on or before June 15, 2009. The primary allegation in the lawsuit is the fact that Cash Money charges an unlawful interest rate on its payday advances in breach of part 347 for the Criminal Code of Canada. Area 347(2) for the Criminal Code describes unlawful rate as “an effective yearly interest rate determined in conformity with generally speaking accepted actuarial techniques and maxims that exceeds 60% from the credit advanced under an understanding or arrangement.”

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