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California Proposition 10 on usury rates in loans
Sacramento reports on Proposition 10 to amend the state constitution to allow higher interest rates for large corporate loans. The measure would let lenders charge more than 10 percent on loans over 100000, with legislative power to set limits. Supporters cite market pricing and job growth. opponents warn of eroding usury protections and harsher penalties.
MENTIONED IN THIS ARTICLE
Arthur Ribbel Copley
Sacramento
Paul Priolo
Los Angeles
Joe Kenrick
Long Beach
Art Linkletter
California