Payday loan industry wins again! A binding arbitration provision that barred a Wisconsin consumer from pursuing a class-action lawsuit against a payday loan lender is enforceable. Read the article here: Cottonwood Financial Ltd. v. Estes That’s what the District III Wisconsin Court of Appeals concluded; Federal law preempts state law!
Still, I’m a lender and I’m experiencing a feeling of depression stemming from the lack of understanding of others and a feeling of total isolation.
Get over it, Man! You’re helping people and doing great things. Your customers love you!!
This is outrageous, that a court could even entertain the idea of wipping out a legally binding contract. Keep these low life losers who do not want to pay their PDL bills.