REGULATORY CHANGES ARE COMING TO CALIFORNIA & OTHER STATES
California has always been an outlier among the states that provide some type of personal loan. On the one hand, California is a progressive state when it comes to different types of loans offered. Currently, you can a short-term payday loan of any amount up to $255. As you would expect, interest rates are high with a cash advance like this. Most people who take out this type of loan would be best served to pay off the loan early to avoid the high APR that accumulates as each day goes by. California is a unique state as most lenders refuse to provide online loans for amounts between $255 and $2500. Reason being, the state has regulations in place which limit the amount of interest for loans between this amount. Most companies that provide online title loans have finance charges well above this limit. As of 2019, they won’t offer loans between this amount as they’re not profitable. With that, there are a few firms who provide online loans (both installment loans and car title advance...