Dollar Loan Center has lost its appeal to the South Dakota Supreme Court on whether it could take its case to a state circuit judge.
The justices unanimously decided Dollar Loan Center needed to first go through a review by an administrative hearing examiner.
The dispute started two years ago after South Dakota voters approved a 36-percent interest-rate cap on loans and fees.
Dollar Loan Center subsequently tried to offer short-term loans that had interest rates as high as 300 percent to 487 percent when late fees were included.
The state Division of Banking ordered Dollar Loan Center to cease offering the loans.
The division later set a hearing date before a state hearing examiner.
Before the hearing could be held, Dollar Loan Center sought relief from a state circuit judge.
The judge ruled she didn’t have jurisdiction.
The Supreme Court agreed in an opinion publicly released Thursday.
Justice Steven Zinter, in a decision reached before his death last month, said Dollar Loan needed to exhaust its administrative remedies before filing an appeal.
“Without the development of a factual record that includes the Division’s examinations, meaningful judicial review of the legality of Dollar Loan’s lending practices and new loan product would not be possible,” Zinter wrote.