It’s a cycle that appears to duplicate it self every session that is legislative Ca.

It’s a cycle that appears to duplicate it self every session that is legislative Ca.

Advocates put forward a bill to control the predatory methods of payday loan providers. Then industry lobbyists squelch your time and effort, persuading state lawmakers that they’re the loan providers of last resource, the sole people that haven’t abandoned low-income areas.

Never mind that the loan providers’ generosity comes with quick and high priced paybacks — a blizzard of costs that may soon add up to an annualized rate of interest in excess of 400per cent. Continue reading »