Civil Litigation,
9th U.S. Circuit Court of Appeals
Sep. 24, 2021
No profits, no restitution, CashCall lawyer tells circuit panel
Kristin Bateman, an attorney with the Consumer Financial Protection Bureau, argued that CashCall’s expenses didn’t matter because the company was not entitled to any money in the first place.
An attorney for the Consumer Financial Protection Bureau told a 9th U.S. Circuit Court of Appeals panel Thursday to overturn a Los Angeles judge's ruling allowing a payday lender to avoid paying $197 million in restitution.
But an attorney representing the lender, CashCall Inc., said any restitution should be limited to the company's net profits, which he said did not exist.
"CashCall did not make a profit on thi...
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