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RUBY v. CASHNET, INC.

Record No. 100287.

708 S.E.2d 871 (2011)

Wilma L. RUBY v. CASHNET, INC., d/b/a Cash Advance Centers.

Supreme Court of Virginia.

April 21, 2011.

Attorney(s) appearing for the Case

Grant D. Penrod ( David A. Penrod ; Hoover Penrod, on brief), Harrisonburg, for appellant.

No brief filed on behalf of appellee.

National Association of Consumer Advocates; Virginia Poverty Law Center ( Thomas D. Domonoske ; Brenda Casteneda; Legal Aid Justice Center, on brief), amici curiae in support of appellant.

Present: KINSER, C.J., LEMONS, MILLETTE, and MIMS, JJ., and LACY and KOONTZ, S.JJ.

OPINION BY Justice LEROY F. MILLETTE, JR.

Under former Code § 6.1-459(6)(i) (which is now codified at Code § 6.2-1816(6)(i)), a payday lender is prohibited from "refinanc[ing], renew[ing] or extend[ing] any payday loan."1 In this case, we must decide whether a payday lender violates this provision when it makes a loan to a borrower immediately after the borrower repays in full a previous loan. We hold that it does.

I...

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