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Proposal To Raise Payday Loan Cap Concerns Consumer Advocates

April 27, 2011 12:52 p.m.

What's the motivation behind a proposal to raise the $300 cap on payday loans? We speak to Investigative Reporter Amita Sharma about why Assemblyman Charles Calderon (D-Whittier) is pushing for the payday loan cap to be increased to $500, and what consumer advocates are saying about the idea.

Related Story: Proposal To Raise Payday Loan Cap Concerns Consumer Advocates