Category Archives: California

California bill dies

A bill to lower interest rates for the jobless died in California. Now that unemployment benefits are deposited directly into bank accounts, these loans are not as risky to lenders. Do we really need a bill for everything under the sun?

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Bill would cap payday loan interest for jobless

“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 […]

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Payday loans to the unemployed

Now that the Federal Government either puts the money directly into a bank account or loads up a credit card, it’s easier to collect on an unemployment payday loan. People want to take a moral stand on this, but that’s not the point.  They’re adults.  They can make their own decisions. Ignacio Rodrigues, a clerk […]

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Comments in California

Lately, I’m more interested in what people are saying and not the media. Here are some comments from an opinion in the Merced Sun-Star. Legislators are looking at increasing the check value of a payday loan to $500 from $300. Personally, I think it’s a good idea. zaphoid wrote on 07/07/2009 01:03:35 PM:If you don’t […]

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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, […]

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