The California Supreme Court ruled Monday that interest rates on consumer loans can be “unconscionably” high and therefore illegal.

By James Rufus Koren
Aug 13, 2018 | 4:00 PM

California’s high court has ruled that interest rates on consumer loans can be so high that they become “unconscionable” and, therefore, illegal — a decision that could call into question the validity of millions of loans and upend the state’s subprime lending market.

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