April 27, 2011 - According to KPBS, Assemblymember Charles Calderon has introduced legislation (AB 1158) to raise the borrowing cap for payday lenders from $300 to $500. The Assembly Committee on Banking and Finance approved the measure on April 25 by a 7-1 vote, with four lawmakers not voting.
From Jan. 1, 2003 - Dec. 31, 2010, Charles Calderon received more in direct campaign contributions connected to the Payday/Title Loans interest group ($31,450) than any other member of the Assembly serving in the 2009-2010 or 2011-2012 legislative session. State Senator Ron Calderon, brother of Charles Calderon, is the top recipient among all legislators in that same time frame ($50,000).
A MapLight.org analysis of campaign contribution figures provided by the National Institute on Money in State Politics shows that interest groups connected to Payday/Title Loans have contributed over $1.1 million since the 2004 election cycle to seated California state legislators of the 2009-2010 and 2011-2012 sessions. Contributions from the 2010 election cycle totaled over $444,000.
Below is the list of the top 20 recipients of campaign contributions connected to the Payday/Title Loans interest group.
19 of the top 20 are Democrats.
|Gloria Negrete McLeod ||Democrat ||Senate||$37,789|
|Kevin De Leon||Democrat||Senate||$36,333|
|Charles Calderon||Democrat||Assembly ||$31,450|
|Hector De La Torre||Democrat||Assembly||$18,000|
Monetary and non-monetary contributions to candidate campaign committees of legislators serving in the 2009-2010 and 2011-2012 sessions of the California State Legislature for election cycles 2004, 2006, 2008, 2010. Campaign contribution data provided by the National Institute on Money in State Politics.