Personal Cash Advance Responds to California Payday Legislation
Affiliate lenders suggest a shift in the political climate in favor of pro-cash-advance legislation among some California politicians with low-income constituents.
Wilmington, DE -- (SBWire) -- 11/01/2011 --Personal Cash Advance, a popular site matching consumers seeking payday loans with online proprietors for free, reports that its affiliates are drawing attention to the increasingly payday-loan-friendly legislation being offered in California. While 17 states have proscribed payday lending completely, California remains a relatively pro-payday-loan environment, largely because of a handful of influential state politicians.
“Our affiliates are very hopeful about the future of the industry if what is happening in California is any indication of what’s to come. The state usually serves as somewhat of a microcosm for the country as a whole, and California has been and remains very friendly to the payday loan industry. Certain politicians continue to advocate reasonable cash advances for consumers in need as valid emergency source of cash in hard times,” explained Melissa Waters, public relations representative for Personal Cash Advance.
Although other politicians have characterized the payday loan industry as “racketeering” and “predatory lending,” California state assemblyman Charles Calderon has crusaded to defend his mostly low-income constituents by advocating the benefits of the judiciously used cash advance. Indeed, Calderon expressed the genuine view of many Personal Cash Advance lending affiliates when he called the payday loan “the best loan on the market” for low-income borrowers with short-term cash flow problems.
“Our affiliates recognize that the payday loan industry has a bit of a public relations problem because of the negative image driven mostly by the largely unfounded accusations of politicians. What Mr. Calderon understands is that when used properly, cash advances actually help, not hurt, consumers in need, and it is not fair to them to deprive them of a valid alternative to traditional borrowing or credit cards,” explained PersonalCashAdvance.com spokesman Neil Cutting.
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