I would be thankful if you can explain why the charges should only apply to the loan book increased & once only.
"The claim alleges that borrowers were charged excessive fees and interest"
--->The fees that not only to do with amount of total loans, but also much more to do with frequency.((eg. buy a stock & keep for one year, pay brokerage fee once(ignore selling brokerage fee); if buy/sell 26 times a year with the same money, total brokerage fees would be 26 time more)). PAYDAY loan is very short term.
--->The interests that not only to do with amount of loans increased portion, but also to do with amount of loans of the base portion. Should apply to the total loans?
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The potential damage would be much much more than your $20m even if just consider the frequency factor.
What the total loss of FY15?, page-15
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