Lawmakers Push 2 Bills to manage ‘Payday Loan’ Industry

Supporters call it a last resource that rescues employees in unexpected need of money. Opponents call it a appropriate loan-sharking procedure that entangles the indegent in an endless internet of financial obligation.

It’s the “payday loan” industry, a fast-growing offshoot of this check-cashing company this is certainly exempt from usury guidelines and offers advance cash to its clients at annualized interest levels because high as 911%.
And also for the 2nd consecutive year, the industry, legalized in Ca four years back to provide needy clients […]