Have a Claim?

Click here for a confidential contact or call:


February 8, 2017

Posted  February 8, 2017

Georgia announced that the Office of the Attorney General’s multi-year legal battle against payday lenders Western Sky Financial, LLC, CashCall, Inc. and related entities has concluded in a settlement providing over $40 million in monetary relief to Georgia consumers. The settlement comes on the heels of a October 31, 2016 ruling by the Georgia Supreme Court that out-of-state Internet lenders are subject to the State’s Payday Lending Act, which prohibits a lender from making loans of $3,000 or less unless the lender is licensed to lend in Georgia or under federal law. Georgia law caps the interest rate of such loans at 10%; however, Western Sky and its affiliates sold over 18,000 loans to Georgia borrowers bearing interest rates of 140% to 340%, and collected over $32 million in interest and fees from those consumers since 2010. The settlement requires Western Sky and its affiliates to pay $23.5 million in consumer restitution, to cease all collections and to forgive all outstanding loans, which will provide an additional $17 million in loan relief to Georgia borrowers. GA