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Ca lawmakers to think about legislation to suppress payday lending

Ca lawmakers to think about legislation to suppress payday lending

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Customers fall into line for payday advances as well as other services in a very California Check Cashing Store in downtown San Jose, 2011. (Dai Sugano/Mercury Information)

California has very very long allowed lending that is payday its triple-digit interest levels — which numerous states consider predatory. However the Legislature this week will think about a bill to rein in payday advances, which experts say suck the economically susceptible into a spiral that is downward of financial obligation. (more…)