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

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

(“Cash Money”) by Kenneth Mortillaro, with respect to all individuals 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 a unlawful interest rate on its pay day loans in breach of part 347 for the Criminal Code of Canada. Part 347(2) regarding the Criminal Code describes rate that is criminal “an effective yearly interest rate determined according to generally speaking accepted actuarial methods and axioms that exceeds 60% from the credit advanced under an understanding or arrangement.”

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