Press Release

SACRAMENTO – Assemblymember Ash Kalra commends the California Supreme Court’s ruling in De La Torre v. CashCall finding that high-interest rates on loans above $2,500 are “unconscionable.” Over the past two years Assemblymember Kalra has been leading the effort to place reasonable interest rate caps on high dollar consumer loans over $2,500.

“I applaud the California State Supreme Court for doing what the Legislature could not; finding that high-interest rate loans are unacceptable.” Assemblymember Kalra goes on to say, “This ruling is a significant step forward, however, it remains the responsibility of the Legislature to put in place sound and reasonable financial protections for consumers who need a loan when faced with stressful financial circumstances.”