District Court (Cal) Awards $47k to Debt Buyer Against FDCPA Plaintiff Who Erroneously Argued that Financial Code section 22340 Prohibited Sale of Debt

In Le v. Sunlan Corporation, 2014 WL 296032 (N.D.Cal. 2014), Judge Breyer awarded over $47,000 in attorneys’ fees and costs to a Debt Buyer who had to defend an FDCPA claim grounded on a claim that Financial Code section 22340 (which applies to real estate backed loans) prohibited the sale of a CashCall loan.  “The Court will not revisit its holding that section 22340 does not apply to the loan at issue. Because section 22340 does not apply, it was not violated, and the remaining claims—premised on the violation of 22340—fail. The Court therefore GRANTS the motion for judgment on the pleadings.”