Tuesday, October 7, 2003
John A. Cardegna v. Buckeye Check Cashing, Inc.

no. 02-2161
Palm Beach County
A class of plaintiffs sued Buckeye and others for allegedly charging illegally excessive interest rates for an advance of money obtained by "check cashing" and payment of certain fees in the future. Yearly interest rates allegedly ranged between 137 and 1,317 percent. In cashing checks, plaintiffs signed agreements that included a clause requiring binding arbitration if a dispute arose. The Fourth District Court concluded that the parties must honor the arbitration clause.