Legal Opinion
State Ex Rel. King v. B&B Investment Group, Inc.
New Mexico Supreme Court
Decided June 26, 2014No. Docket 34,266PublishedCited by 48 opinions
1Opinion of the Court
OPINION
CHÁVEZ, Justice.
{1} In January 2006, two former payday lenders, B&B Investment Group, Inc., and American Cash Loans, LLC (Defendants), began to market and originate high-cost signature loans of $50 to $300, primarily to less-educated and financially unsophisticated individuals, obscuring from them the details of the cost of such loans. The loans were for twelve months, payable biweekly, and carried annual percentage rates (APRs) ranging from 1,147.14 to 1,500 percent. The Attorney General’s Office (the State) sued Defendants, alleging that the signature loan products were procedurally…
2Cases cited22 opinions
- Ora Lee Williams v. Walker-Thomas Furniture Company, William Thorne v. Walker-Thomas Furniture CompanyCourt of Appeals for the D.C. Circuit · 1965
- Cordova v. World Finance Corp. of NMNew Mexico Supreme Court · 2009
- Continental Potash, Inc. v. Freeport-McMoran, Inc.New Mexico Supreme Court · 1993
- Quynh Truong v. Allstate InsuranceNew Mexico Supreme Court · 2010
- Rivera v. American General Financial Services, Inc.New Mexico Supreme Court · 2011
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3Cited by48 opinions
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- Peavy v. Skilled Healthcare Group, Inc.New Mexico Supreme Court · 2020
- Laurich v. Red Lobster Rests., LLCDistrict Court, D. New Mexico · 2017
- La Frontera Center, Inc. v. United Behavioral Health, Inc.District Court, D. New Mexico · 2017
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