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CashCall Blames Law Firm For Staggering Loss

SANTA ANA, Calif. (CN) – Asserting damages of more than half a billion dollars, consumer lender CashCall has sued Katten Muchin Rosenman and a top partner for malpractice, claiming the law firm steered the company to partner with a Cheyenne tribal businessman in a scheme to avoid state lending laws – a scheme courts and regulators later struck down.

CashCall and its owner and sole shareholder, J. Paul Reddam, say they created a national lending program based on assurances from Katten Muchin and partner Claudia Callaway that “that Native American laws, rather than federal and state laws, would govern direct consumer loans consummated on a reservation,” which then would be purchased and collected by CashCall.

https://www.courthousenews.com/cashcall-says-lawyers-incompetence-destroyed/

 

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