On January 13, 2016, I take my oath of office as your state senator. I am planning on introducing approximately 40 bills and about a dozen budget amendments in our 60-day session.
Predatory Lending
Predatory lending is a major problem in the U.S. 1 Corridor. Car title lenders have been abusing this loophole by charging rates over 200% by recharacterizing car title loans as separately regulated car title loans. To reign in car title lender bait and switch tactics, I am proposing to limit interest rates on consumer finance loans at 36%. I have also introduced legislation to prohibit car title lenders from using subsidiaries from using the open end credit loophole to also evade consumer protections.