After many years of unsuccessful tries to rein in California’s “small-dollar” loan providers, supporters of the bill to cap rates of interest are hoping that a wider coalition of backers and a governor who’s talked away against predatory financing can certainly make a significant difference.
Assembly Bill 539, which may set an interest that is annual limit of 36% and also a 2.5% federal funds price on loans of $2,500 to $10,000, is sponsored because of the l . (more…)