SAN FRANCISCO, September 24, 2013 /PRNewswire/ --
CashAdvanceOnline.net, the top consumer finance site and short term loan aggregator for payday loans, has announced the publication of a brand new article dealing with the laws for short term loans within the state of California.
The new article forms a part of the site's series on cash advance laws within the United States. Accompanying the article is an infographic that lays out the highlights, providing an at-a-glance guide for consumers to take a look at before deciding to accept a cash advance from a California-based lender.
The article outlines all of the rules and regulations for loans within California and confirms that payday loans or cash advances are legal within the state of California. Consumers can take out a maximum loan amount of $300. There is no minimum length of the loan, but the maximum loan length is 31 days. Within California, there is a maximum fee and finance charge rate of 17.65% and lenders are not permitted to charge more than 15% per week for a loan to a consumer.
In addition, the article includes regulatory information, such as the channels that should be followed where a lender offers a loan in contravention of the state's legal rules. In these instances, the article points out that the consumer should contact the California Department of Business Oversight (DBO) in order to exercise their statutory rights and protect themselves.
A spokesperson for CashAdvanceOnline.net made the announcement of the article's launch in the following statement that was released to the press.
"We are pleased to announce that we have published a new article on our site addressing the payday loan laws in another U.S. state. This time, California is featured and we are delighted to offer Californians a clear guide to knowing what cash advance lenders can and cannot do. We advise consumers to read the guide, look at the infographic and inform themselves fully before taking a loan with a payday lender. We can help connect them for free to reputable and reliable companies via our introduction system and aggregation platform."
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Read the article for free at: http://www.cashadvanceonline.net/california-payday-loans/