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Once Again, CA Payday Lenders Get a Pass

Thursday, August 2, 2018
Antoinette Siu | City Watch
Graciela Aponte-Diaz

In 2013, the state created a small-dollar loan program to regulate loans between $300 and $2,500. The state caps interest on those loans between 20 and 30 percent, but any loan above $2,500 is the “real Wild, Wild West,” said Graciela Aponte-Diaz, California policy director at the Center for Responsible Lending, a nonprofit focused on consumer lending.