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On Monday we blogged about AB 377 (Mendoza), which will allow Californians to create a individual check

On Monday we blogged about AB 377 (Mendoza), which will allow Californians to create a individual check

for approximately $500 to secure a loan that is payday up considerably through the present optimum of $300. Under this proposed modification, a debtor whom writes a $500 check up to a payday lender would obtain a $425 loan – which needs to be paid back in complete in only a couple of weeks approximately – and pay a $75 charge.