Payday Lending Transparency and customer Protection bill is finalized because of the Governor

Payday Lending Transparency and customer Protection bill is finalized because of the Governor

SACRAMENTO, CA – Assemblymember Cecilia Aguiar-Curry’s (D – Winters) bill, AB 1636, ended up being finalized into legislation by Governor Brown week that is last. This critical customer security measure increases accountability of “Payday Lenders” in Ca through strengthening the various tools Department of company Oversight (DBO) makes use of to oversee, manage, and review lenders’ reports.

“These organizations can offer low-income Californians under a economic pinch with an option for a short-term fix whenever looking for cash, but this kind of loan can easily snowball into a household economic crisis,” said Aguiar-Curry. Read More