“Assemblywoman Nancy Skinner (D-Berkeley) introduced a bill that would cap interest rates for loans to the jobless at a percentage so low it would all but eliminate payday loans.”
I know unemployment is at a very high level, but do we need a law for every little thing? My big question, would this include borrowers who do not receive a W2 and are on social security benefits?
This is a California bill. You can read the article in the LA Times.
