Questions for the ninth circuit. How to pay off illegal CashCall loans

The Consumer Financial Protection Bureau called on the Ninth District to overturn the ruling that allowed the online lender to avoid paying consumers who took out illegal, high-interest loans from the company.

The United States Court of Appeals for the Ninth Circuit, examining the parties’ arguments on how to qualify the money that would be raised to pay off loans to consumers, also wrestled with the question of how it should be awarded.

The CFPB said Thursday in oral arguments that a California District Court erred in ruling that the bureau could only seek payment of CashCall Inc. profits. from illegal loans. …

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