Bills headed for state Senate would place restrictions on payday, automobile name lending

Bills headed for state Senate would place restrictions on payday, automobile name lending

State legislators killed a bill that will have reshaped much of California’s customer financing market, but two bills that are more-modest it through their state installation and now proceed to the Senate.

You might stop borrowers from taking out fully a lot more than one cash advance at a right time; another would cap rates of interest on auto-title loans. Both is likely to be taken on Wednesday by the Senate banking committee. Read more…