Published Sep 21, 2002 2:05 pm : Updated Jan 31, 2009 5:33 pm
Governor Gray Davis has signed a bill into law giving the state more authority to monitor the payday lending industry. Supporters say the lenders provide a needed financial service to poor areas. But consumer activists say the high fees and high-interest loans are predatory and unfairly target poor people who can´t afford to go elsewhere.
This post was last modified on 01/31/2009 5:33 pm