I think it'll get signed into law later this year, SB 666, and take that number with a grain of salt. But it is targeting the devil of small business junk fees. As many of your members may have experienced, There are a lot of predatory lenders out there right now targeting small businesses with products that are unfair. They're opaque, they have hidden fees, they have ratchets. And we're proposing a series of different solutions to different types of predatory lending products targeted at small businesses, whether it's usury caps, whether it's more transparency or things along those lines. (28:33–28:40)
CLAIM
Asserts that many predatory lenders are targeting small businesses with unfair products.
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