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Author: Kalra
Co- authors: Bradford, Mitchell, Bloom, Bonta, Chiu, Chu, Gonzalez, Jones-Sawyer, McCarty, Mark Stone, Ting


Californians struggling with loans — often minorities, veterans, students, and seniors — end up falling deeper in debt due to penalty fees, debt collection lawsuits, damaged credit, and even bankruptcy. AB 2500 would have protected consumers from being targeted by predatory lenders by capping interest rates for loans at roughly 20% for consumer loans between $2,500 and $10,000.