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STATE EX REL. KING v. B & B INVESTMENT GROUP

No. 34,266.

329 P.3d 658 (2014)

2014-NMSC-024

STATE of New Mexico, ex rel., Gary K. KING, Attorney General, Plaintiff-Appellant, v. B & B INVESTMENT GROUP, INC., d/b/a Cash Loans Now, and American Cash Loans, LLC, d/b/a American Cash Loans, Defendants-Appellees.

Supreme Court of New Mexico.

June 26, 2014.

Attorney(s) appearing for the Case

Gary K. King , Attorney General, Karen J. Meyers , Assistant Attorney General, John D. Thompson , Assistant Attorney General, Santa Fe, NM, for Appellant.

Modrall, Sperling, Roehl, Harris & Sisk, P.A., Alex C. Walker , Albuquerque, NM, for Appellees.

CERTIFICATION FROM THE NEW MEXICO COURT OF APPEALS

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...

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