Ca nonbank customer loan providers are leaving little buck temporary payday loans and generally are, alternatively, adopting long term installment loans with quantities over $2,500 to prevent rate of interest caps, in line with the state’s banking regulator. Based on the Department of company Oversight (DBO), this is the takeaway from reports it issued about two key financing rules: the Ca Financing Law (CFL) therefore the Ca Deferred Deposit Transaction Law (CDDTL), also known as the payday lending legislation. Continue reading “California Regulator: lenders away that is moving Small Dollar Loans to Tall Interest Installment Loans”