California Regulator: Loan Providers Moving Away From Small-Dollar Loans to High-Interest Installment Loans

California Regulator: Loan Providers Moving Away From Small-Dollar Loans to High-Interest Installment Loans Ca nonbank customer loan providers are leaving small-dollar short-term payday advances and they are, rather, embracing longer-term installment loans with quantities over $2,500 in order to avoid interest caps, in accordance with the state’s banking regulator. Based on the Department of company …