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FILED

Ruby v. Cashnet, Inc.

FILED status graphic: Ruby v. Cashnet, Inc.. 100287 Ruby v. Cashnet, Inc. 04/21/2011 (Revised 05/25/2011) Under former Code § 6.1-459(6)(i) of the Payday Loan Act, which is now codified at Code § 6.2-1816(6)(i), a payday lender is prohibited from refinancing, renewing or extending any payday loan, and a payday lender violates this provision when it makes a loan to a borrower immediately after the borrower repays in full a previous loan. Consequently, the circuit court erred in finding that a payday lender's practice of making a loan to a …
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