California Editoral Urges Payday Loan Reforms
By J.J. CameronPayday Loan Writer
Channel 10 News in California is joining the payday loan reform brigade. A recent editoral from the station expresses the following:
People should be protected from military payday loan predators. Everybody talks about it: these families deserve our appreciation for the sacrifices they make for the rest of us. Even putting their lives at risk in dangerous places abroad.
But some armed forces leaders say there's a big danger right here at home. High-interest military payday loans - charging up to 459 percent interest here in California - that target our young men and women in uniform. Many of these centers are located near military bases. About 20 close by the gates of Camp Pendleton.
10News says its time to crack down on these loathsome faxless payday loan sharks who take aim at our military personnel.
We urge the hearings led by State Senator Liz Figueroa to put California in the company of states like New York and North Carolina. Pass a legal cap on the amount of interest to be paid or ban these payday loans altogether.
