Triple Digit Interest Rates and the Doctrine of Unconscionability
A recent California law capped the interest rate of small consumer loans at approximately 36%. Nevertheless, courts are being flooded with collection actions seeking to enforce older consumer loans bearing triple digit interest rates.
On April 25, 2022, EKO Law and the Alexander Community Law Center of Santa Clara Law will host a conversation with the attorneys who litigated the landmark case of De la Torre v. CashCall, a class action asserting that CashCall's loans bearing interest rates between 96%-135% were unconscionable.
Arthur Levy and James Sturdevant will describe their epic battle through the federal and state appeals courts, class certification, and ultimately victory at trial. Certified law student Vasti Montiel '22 will discuss the Law Center's work battling collections actions attempting to enforce similar high interest loans.