Commentary
California could finally regulate high-interest lenders. It’s up to the Senate
By setting a 36% annual rate cap on such loans, Assembly Bill 539 by Assembly Banking and Finance Committee Chairwoman Monique Limon, a Santa Barbara Democrat, would provide Californians with protections against high-cost loans similar to safeguards now enjoyed by an estimated 232 million Americans. AB 539's fate is in the state Senate's hands.
