Mercury Information editorial: Ca shouldn’t expand lending that is payday. The Legislature can’t let this take place.
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A bill to grow predatory payday lending in Ca has lain inactive when you look at the Legislature since final summer time, once the Assembly passed it with bipartisan help. (evidently both parties are simply fine with trapping vulnerable individuals in a period of financial obligation.) But it appears as if Democratic Assemblyman Charles Calderon, one of the payday lending industry’s leading lap dogs, is negotiating to regenerate it within the Senate.