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SCOTX Considers the Future of a Lawsuit Against Payday Lenders

(AUSTIN) – Did a payday lender waive its right to arbitration by pursuing criminal charges against some of its customers?

The Texas Supreme Court Friday heard arguments at the University of Houston Law Center in the case involving Cash Biz, a provider of short-term consumer loans known as “payday loans.” In exchange for the often small loans, Cash Biz required borrowers to agree to binding arbitration for any disputes and to provide a post-dated personal check in the amount of the loan plus finance charges.

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