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California has reformed customer loan rates of interest. But will lenders find loopholes?

California has reformed customer loan rates of interest. But will lenders find loopholes?

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Tom Dresslar, previous Deputy Commissioner during the California Department of company Oversight: the individuals of California, through their legislature and governor, simply chose to end a decades-long, unbridled fleecing of an incredible number of the state’s borrowers. Some predatory loan providers, nevertheless, may introduce a scheme that may, because of their organizations, efficiently overturn that sovereign choice.

By Tom Dresslar, Unique to CalMatters

Tom Dresslar is a previous reporter and served as being a Deputy Commissioner in the California Department of company Oversight, the state’s regulator of economic solution companies.