Summary
Struggling Californians certainly could use some help - just not the help that some of their representatives in Sacramento are offering.
Assemblyman Charles Calderon, D-Montebello, is sponsoring A.B.1158, which would raise the amount payday lenders can loan from $300 to $500 at a time. Calderon claims the bill helps the poor cope with unexpected expenses. The reality is that these loans are a debt trap that can lead to financial ruin.See the full content of this document
Extract
Our View: Payday Bill Would Be a Disaster
Payday lenders charge outrageous rates. Under Calderon's b...
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