Governor Arnold Schwarzenegger on Sunday signed seven bills meant to crack down on lending abuses, and thus better protect consumers. So I am writing now about the bills.

The main bill he signed is AB 260, which targets higher-priced loans, the government’s term for subprime. (Higher-priced loans have interest rates 1.5 percentage points or more above rates on similar prime loans.)

Assemblyman Ted Lieu (D-Torrance) sponsored the bill and has also backed bills aimed at helping homeowners avoid foreclosure.

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