California AB539 Disruption = Opportunity
Are you aware that the “big boys” sponsored AB539? They spent huge sums of $$$ on PACs and politicians in California to make certain all of us “little guys” cannot compete? Do you know that this 36% APR cap calculation does not include ancillary fees such as non-refundable loan origination fees, credit insurance [that only subsidizes the Lender and consumers must pay again each time their loan is renewed], club memberships, life insurance, accident, health, and disability insurance, involuntary unemployment insurance, property insurance, “nonfiling” fees, accidental death & dismemberment insurance, automobile security plans… MY Point? THE ALL IN APR – annual percentage rate – our sub-prime borrowers pay is HIGHER than the stated APR on their loan contract.