CRC Applauds Efforts By Community Leaders, Lawmakers And Governor Newsom For Signing Into Law A Bill That Curbs The Power Of Payday Lenders In California
California Governor Gavin Newsom signed into law Assembly Bill 539, the Fair Access to Lending Act. This legislation will prohibit the practice of charging unaffordable interest rates on consumer loans of $2,500 – $10,000. Existing law does not limit the interest rate that lenders can charge on loans of $2,500 – $10,000. The lack of an interest ...
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