CashCall Faces Consumer Redress, Bigger Penalty in CFPB Suit

Online lender CashCall Inc. faces additional civil penalites and paying restitution to consumers after the Ninth Circuit sent a judgment in favor of the CFPB back to a lower court.

A California district court applied the wrong legal analysis in 2018 when it only assessed a $10 million civil money penalty against CashCalll and no restitution payments to consumers harmed by improper loans, the U.S. Court of Appeals for the Ninth Circuit said Monday.

The appellate panel didn’t say that a restitution order was necessarily appropriate, or how any amount should be calculated, however.

The CFPB sued CashCall in 2013, ...