Another new law, Assembly Bill 950, extends to two years the period of state residency for service members on active duty who are not California residents so they can pay in-state, instead of out-of-state tuition and fees, enabling more to qualify. California’s payday loan law parallels the federal law and, in effect, enables the state to enforce the cap and take action against companies that break the law, officials said. Enforcement of the predatory lenders law falls to the state’s Department of Corporations. The predatory lending law came two years after military officials first pressed state leaders to curb lenders who they say take advantage of military service members and threaten their financial health and readiness. Top military installation commanders praised the legislation, which was approved by the state legislature last month and signed into law by Gov. Read More