New state legislation limits payday, other “Debt Trap” loans. Nixon: Payday Lenders Are Circumventing Law

New state legislation limits payday, other “Debt Trap” loans. Nixon: Payday Lenders Are Circumventing Law Marketing Graphic of the lending agreement that is predatory. Due to Ca Black Media On Oct. 10, Gov. Gavin Newsom finalized Assembly Bill 539. The legislation sets limitations on predatory financing techniques in Ca he claims “creates financial obligation traps for families already struggling economically.” Experts state loan providers whom provide these high-interest loans target disadvantaged individuals, more and more them Black and Brown customers staying in...

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