New California bill tries to raise loan amount to $500

Currently, you can only get a loan for up to $300 in California. Actually, that’s the face value of the post dated check. The reality is that the advance amount is typically $255.

A new bill AB377 will try and raise this amount to $500.

If you would like to read more about this developement, you can go to the Payday Loan Industry Blog.

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