Government
Oct. 18, 2017
GC testifies company believed loans weren’t subject to state laws
A company that purchased high-interest loans acted under the belief that those loans were not subject to state laws, its general counsel testified Tuesday.
NOLAN
LOS ANGELES — A company that purchased high-interest loans acted under the belief that those loans were not subject to state laws, its general counsel testified Tuesday.
CashCall Inc. stopped buying the loans only because it believed the federal regulatory scheme had become too onerous, Daniel Baren testified.
“It was a business decision,” said Baren under questioning from his attorney, Thomas J. ...
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