Posts Tagged: borrowers

Needed: Protecting small businesses from predatory lending

A loan document package ready to be signed. (Photo: nik93737 via Shutterstock)

by CAROLINA MARTINEZ posted 10.10.2019

OPINION: “Small businesses are the backbone of the economy.” We hear this all the time from elected officials, but the data show it’s much more than a political platitude. California’s four million small businesses employ 50% of the state’s private sector workforce, and accounted for two-thirds of job creation over the last seven years. They lifted us out of the Great Recession. But small business owners still grapple with acute challenges, particularly access to affordable credit.

Needed: Protections for consumers from high-interest loans

A photo illustration depicting sky-high interest rates. (Image: Becky Stares, via Shutterstock)

by CHRIS MCKINLEY posted 06.20.2019

OPINION: High-cost, extreme interest rates are having a detrimental impact on the financial stability and well-being of both credit markets and borrowing consumers. We strongly support Assembly Bill 539 (Limón) as the right approach for consumers to have a loan that is affordable and accessible while promoting a sustainable, healthy credit market for lenders.

Truth-in-lending law needed now

A photo illustration using stacks of quarters to show rising interest rates. (Photo: Doubletree Studio)

by LUZ URRUTIA posted 09.29.2018

Would you take out a loan for a new home if you didn’t know the interest rate? How about for a car? Or even for a credit card? More than likely, not.