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November 14
1935 - Voters approve $22,000 construction bond to build a bigger Saugus School. WPA kicked in another $17,181. [story]
Saugus School


SACRAMENTO – The California Senate passed a robust consumer protection law Friday that limits the amount of interest payday lenders can charge their customers.

The passage of Assembly Bill 539 on the final day of the legislative session means the bill will head to Gov. Gavin Newsom’s desk. It would bar payday lenders from charging outrageous interest rates – sometimes as high as 200% – on loans between $2,500 and $10,000.

Currently, loans less than $2,500 are capped at 36% interest, but this created a loophole where unscrupulous lenders force borrowers to take out at least $2,500 to qualify for a loan so that exorbitant interest rates can be applied. AB 539 closes the loophole so the 36% interest rate applies to all payday loans, regardless of the amount borrowed.

“Consumers are unable to repay,” said state Sen. Holly Mitchell, D-Los Angeles, during Friday’s floor session. “We commissioned a study that shows more than 40% end up in collections.”

Other studies show that approximately 100,000 Californians default on their loans every year, many of whom do not have the financial literacy to understand exorbitant interest rates in the triple digits can be fiscally crippling.

“They can have their paychecks garnished, their bank accounts taken, and their cars repossessed,” Mitchell said.

The measure passed 30-5, indicating a willingness by some Republicans to flee the party line and support the bill.

Those in opposition said the regulation will drive some payday lenders out of business, meaning people with no credit or poor credit ratings will have decreasing options if they need money.

“Where are people going to get credit?” asked Shannon Grove, R-Bakersfield. “We can’t just expect financial institutions to take a bad risk.”

Grove argued consumers can use these high-interest payday lenders to gain a footing and begin to re-establish their credit ratings.

Proponents of the bill expressed skepticism that interest rates as high as 200% are anything but predatory.

“There is a difference between taking a risk and completely abusing poor people and forcing them into debt,” said Maria Elena Durazo, D-Los Angeles.

Newsom has 30 days to sign or veto the bill.

— By Matthew Renda

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SCV NewsBreak
LOCAL NEWS HEADLINES
Thursday, Nov 14, 2019
2 Dead, 4 Wounded in Saugus High School Shooting
Two people were killed and four others, all students, were wounded when they were shot at Saugus High School Thursday morning.
Thursday, Nov 14, 2019
Saugus High Shooting Survivors Share Their Stories
“Shooter, Shooter! There’s a shooter!” That was the first thing Saugus High School 10th-grader Nathan Ephren remembers hearing while he walked onto campus Thursday morning.
Thursday, Nov 14, 2019
Officials Weigh in on Saugus High School Shooting
Public officials released statements and posted social media comments Thursday in the wake of the Saugus High School shooting Thursday morning.
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Latest Additions to SCVNews.com
Two people were killed and four others, all students, were wounded when they were shot at Saugus High School Thursday morning.
2 Dead, 4 Wounded in Saugus High School Shooting
“Shooter, Shooter! There’s a shooter!” That was the first thing Saugus High School 10th-grader Nathan Ephren remembers hearing while he walked onto campus Thursday morning.
Saugus High Shooting Survivors Share Their Stories
Public officials released statements and posted social media comments Thursday in the wake of the Saugus High School shooting Thursday morning.
Officials Weigh in on Saugus High School Shooting
The Santa Clarita community responded quickly to come to the aid of those affected by the shootings at Saugus High School Thursday morning.
Community Reaches Out to Those Affected by Saugus High Shooting
It was like any other day of the week for the Branch and Beltran families — making breakfast, getting ready for the day’s routine — until they heard a swarm of police surround Saugus High School on Thursday morning as an active shooter incident developed.
Centurion Way Residents React to Saugus High Shooting
1935 - Voters approve $22,000 construction bond to build a bigger Saugus School. WPA kicked in another $17,181. [story]
Saugus School
The Los Angeles County Board of Supervisors voted Tuesday to approve the transfer of the operation of the John Anson Ford Theatres to the Los Angeles Philharmonic Association.
County Names LA Phil New Operator of Ford Theatres
The candidate filing period for the March 3, 2020, Presidential Primary Election is now open, Los Angeles County Registrar-Recorder/County Clerk Dean C. Logan announced Tuesday.
Filing Period Now Open for 2020 Primary Candidates
The Greater Los Angeles County Vector Control District will hold its regular meeting, Thursday, Nov. 14, at 7:00 p.m.
Nov. 14: Greater LA County Vector Control Regular Meeting
Five College of the Canyons students won the People’s Choice Award at the International Interior Design Association's LA Haunt Couture show on Thursday, Oct. 24.
Five COC Students Win Interior Design Award
The Los Angeles County Board of Supervisors passed a motion authored by Supervisor Janice Hahn and co-authored by Supervisor Sheila Kuehl Tuesday to address the Board and Care crisis throughout the county.
LA County to Intervene to Prevent Board and Care Closures
Santa Clarita Valley Sheriff’s Station deputies detained a man Wednesday who reportedly threatened to jump from a freeway overpass, after a reported disturbance on an out-of-town bus trip.
One Detained in Bizarre I-5 Freeway Disturbance
With the holiday season just around the corner, the College of the Canyons School of Visual and Performing Arts, or VAPA, has an exciting lineup of shows that are sure to delight family and friends of all ages well into the next year.
COC Visual, Performing Arts Sets Holiday Concerts at PAC
The Women’s Council of Realtors of Santa Clarita Valley invites local residents to help celebrate the installation of its 2020 Board members at the Sand Canyon Country club on Friday, November 22, at 6 p.m.
Nov. 22: Women’s Council of Realtors to Install 2020 Board
Santa Clarita veterans and residents are invited to board a Santa Clarita Transit coach for a patriotic ride to Knott’s Berry Farm for on Sunday, November 17.
Nov. 17: City Bus Service to Knott’s for ‘Military Tribute Days’
The Los Angeles County Board of Supervisors approved a motion by Supervisors Kathryn Barger and Hilda Solis that adopts a framework and associated funding to help the county's cities address their individual homelessness challenges.
County Adopts Initiative for City Homelessness Funding
The Sulphur Springs Union School District board of trustees was scheduled Tuesday to consider the authorization of a $78 million bond measure to be placed on the March 2020 ballot.
Sulphur Springs Considers $78M School Bond Measure
The Santa Clarita Valley’s top cop, Capt. Robert Lewis, took a moment Tuesday to reflect on a county report showing the SCV Sheriff’s Station received the second-highest number of commendations from the public and tied for third place for receiving the most complaints among Los Angeles County sheriff’s stations, bureaus and divisions.
Capt. Lewis Reflects on Latest OIG Findings
The Santa Clarita City Council voted Tuesday night to extend a temporary ban on new sales of flavored tobacco products through October 2020.
City Council Extends Moratorium on Flavored Tobacco Products
Governor Gavin Newsom and First Partner Jennifer Siebel Newsom joined the California Museum, the state's official history museum, in announcing the 13th class of inductees into the California Hall of Fame.
Dec. 13: Induction of California Hall of Fame 13th Class
Detectives from the Santa Clarita Valley Sheriff's Station would like to hear from Castaic residents who might help solve a series of property thefts from vehicles late Monday night.
Detectives Seek Info on Vehicle Property Thefts in Castaic
Department of Water Resources officials lifted a caution advisory Friday about the threat of algae for both Pyramid Lake and Castaic Lake.
Algae Threat Removed for Pyramid Lake, Castaic Lake
A man identified by deputies as a transient was arrested in Newhall on the weekend on suspicion of attempted arson after allegedly setting magazines and papers on fire and then throwing them in planters.
Detectives Arrest Transient on Suspicion of Attempted Arson
1966 - Pico No. 4 oil well listed as a National Historic Landmark [story]
Pico No. 4
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