Stern warnings to loan providers mulling end run around Ca rate caps
Stern warnings to loan providers mulling end run around Ca rate caps
Policymakers both in Washington and Sacramento issued a warning that is stern week to high-cost loan providers that aspire to evade a fresh cap on customer interest levels in California: Don’t also think of partnering with banks.
A recently enacted Ca legislation establishes an interest rate limit of around 36% for a group of installment loans that formerly had no ceiling that visit site is legal. Also before Democratic Gov. Gavin Newsom finalized the measure, professionals at three businesses that fee triple-digit annual percentage prices into the Golden State talked publicly about their efforts which will make a conclusion run across the limitations. […]