The Consumer Financial Protection Bureau (CFPB) has received a complaint every 21 hours for the past five years about a single California fintech company, public records show. But that’s far from all the trouble CashCall and its attorneys are facing.

The 15-year-old Orange, California-based online lending company was ordered by the Virginia attorney general’s office in January 2017 to pay more than $15 million to consumers who CashCall allegedly deceived into accepting illegally high interest rates on loans with annual rates reaching up to 230 percent.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]