Payday lender blocked from doing business in North Carolina

The N.C. Business Court has blocked online lender Western Sky Financial L.L.C. and several of its affiliates from doing business in the state, saying that allowing them to continuing issuing and collecting loans would be “adverse to the public interest.”

The state sued Western Sky Financial, CashCall Inc. WS Funding Inc., Delbert Services Corp. and CashCall founder John Paul Reddam in 2013, alleging the companies collaborated in a scheme to issue loans to N.C. consumers while charging exceptionally high interest rates in violation of state law.

http://www.bizjournals.com/triangle/news/2015/08/31/payday-lender-blocked-from-doing-business-nc.html