Governor Signs 2 of 3 California BHPH Bills

Posted by carguy - October 5, 2012 - Blog - No Comments

SACRAMENTO, Calif. — California buy-here, pay-here dealers will have more compliance procedures to maintain when Jan. 1 arrives, since two of the three bills aimed at changing how the industry operates were signed by Gov. Jerry Brown.
But the measure Brown vetoed — a policy that would have created a hard interest-rate cap — is leaving the head of the Independent Automobile Dealers Association of California breathing a little easier. Brown did not sign Senate Bill 956, a measure that would have put a ceiling on today’s interest rates at 17.25 percent.

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