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Money Money Cheque Cashing Inc. Class Action

Money Money Cheque Cashing Inc. Class Action

A course action happens to be certified against money cash Cheque Cashing Inc. (“Cash Money”) by Kenneth Mortillaro, on the part of 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 primary allegation in the lawsuit is the fact that Cash Money charges an unlawful interest on its pay day loans in breach of area 347 of this Criminal Code of Canada. Part 347(2) of this Criminal Code describes unlawful rate as “an effective yearly interest rate determined relative to generally speaking accepted actuarial techniques and axioms that exceeds 60% regarding the credit advanced under an understanding or arrangement.”