Community Financial Services Association: Court Rulings Impacting Payday Lenders; Class Action Status Denied in North Carolina, Full 11th Circuit to Rehear Georgia Case.WASHINGTON -- Courts in North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. and Georgia have announced two separate decisions in cases involving the payday advance industry, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the Community Financial Services Association of America (CFSA CFSA Community Financial Services Association CFSA Certified Financial Services Auditor CFSA Carolina Farm Stewardship Association (Pittsboro, NC) CFSA Child and Family Services Act (Canada) ). A North Carolina trial court ruled the Arbitration Agreements written into payday advance contracts are legal and valid under North Carolina Law. The plaintiff's motion for class action status was denied, based on the upholding of the arbitration clause. CFSA supports arbitration as long as the agreement is fair and equal to all parties involved. In Georgia, the U.S. Court of Appeals for the 11th Circuit granted a rehearing rehearing n. conducting a hearing again based on the motion of one of the parties to a lawsuit, petition or criminal prosecution, usually by the court or agency which originally heard the matter. in the BankWest, Inc. case challenging Georgia's payday lending law. The opinion of the three judge panel will be vacated and the case will be reheard by the court en banc [Latin, French. In the bench.] Full bench. Refers to a session where the entire membership of the court will participate in the decision rather than the regular quorum. In other countries, it is common for a court to have more members than are , allowing the full bench of the 11th Circuit the opportunity to decide the case. For many years, CFSA has worked with state legislators and responsible consumer groups to enact tough, consumer-friendly laws and regulations governing the payday advance industry. Thirty-seven states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). now have laws in place regulating the industry. About CFSA The Community Financial Services Association of America (CFSA) is the national trade group of the payday advance industry. Representing 164 member companies with more than half of the payday advance outlets nationally, CFSA promotes laws and regulations that protect consumers and preserve their access to credit options. The association also works on behalf of members to support and encourage responsible industry practices. Membership is contingent upon compliance with CFSA's mandatory "Best Practices." Website: www.cfsa.net |
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