Money cash Cheque Cashing Inc. A course action is certified against Cash Money Cheque Cashing Inc.

Money cash Cheque Cashing Inc. A course action is certified against Cash Money Cheque Cashing Inc.

(“Cash Money”) by Kenneth Mortillaro, with respect to all people resident in Canada, (excluding British Columbia and Quebec, and excluding the Defendant, its officers, directors, or affiliated organizations) whom obtained a number of payday loan(s) from money cash on or before June 15, 2009. The allegation that is main the lawsuit is the fact that Cash Money charges a criminal interest rate on its payday advances in breach of part 347 for the Criminal Code of Canada. Part 347(2) associated with the Criminal Code describes rate that is criminal “an effective yearly interest rate determined prior to generally speaking accepted actuarial methods and concepts that exceeds 60% regarding the credit advanced under an agreement or arrangement.”

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