| By Jennifer Barrera
A job killer bill that will significantly restrict Californians’ ability to access home and auto loans by placing onerous burdens on lenders, which will further exacerbate the housing crisis, will be considered by the Assembly Banking and Finance committee today.
AB 2501 (Limón; D-Santa Barbara)
was added to the California Chamber of Commerce Job Killer list today. The bill requires lenders to maintain home and auto loans for an extended length of time with no payments from borrowers. This strain imposed on financial institutions will limit the availability of credit in the future, which will harm our economic recovery.