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If Gov. Jerry Brown signs the legislation headed to his desk, it would be the first law of its kind in the U.S. It is designed to allow small-business owners to make comparisons between offers in the often bewildering world of online business lending.
September 5 -
The Cleveland Fed's conclusion that U.S. consumers are typically worse off after getting online loans encountered strong pushback from industry groups and the company that provided the data.
November 14 -
Consumers who have borrowed from online lenders owe more and have lower credit scores than similarly situated consumers who have not used online lenders, according to a study released Thursday by the Cleveland Fed. The provocative findings seem likely to spark intense debate.
November 10