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California Treasurer John Chiang on Governor’s Signing of Senate Bill 33 (Forced Arbitration)

California Treasurer John Chiang on Governor’s Signing of Senate Bill 33 (Forced Arbitration)

  John Chiang, California State Treasurer   SACRAMENTO – Victims of fraud by Wells Fargo Bank and other financial institutions finally can have their day in court thanks to Senate Bill 33, sponsored by State Treasurer John Chiang and consumer advocates. .  The governor today signed SB 33, authored by Sen. Bill Dodd, D-Napa, into law. The […]

Payday Loans and Unintended Consequences

Payday Loans and Unintended Consequences

By Thomas Knapp In 2010, Congress passed and president Barack Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act. Dodd-Frank created the Consumer Financial Protection Bureau and authorized it, among other things, to regulate “payday lending.” Six years later, the CFPB has finally issued new rules proposals pursuant to that power. The proposals […]