February 26, 2018 / 9:44 PM / 8 months ago

Texas high court says payday loan suit must be arbitrated

Texas borrowers suing bankrupt payday lender Cash Biz for allegedly having criminal complaints filed against them for writing bad checks will have to settle their dispute by arbitration, the Texas Supreme Court ruled on Friday.

The borrowers had argued that Ohio-based Cash Biz waived the right to arbitration when it used criminal courts for debt collection, but Cash Biz’s only role was providing information to district attorneys, who made the decision to prosecute, the Texas high court said.

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