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The state shouldn’t get in the way if someone decides to take out a particular loan.

“There’s a misunderstanding of whom the typical debtor is,” said Roger Salazar, spokesman for Californians for Credit Access, a coalition of tiny loan companies. “They’re working folks who will be smart and know very well what this product is.”

Some borrowers spoke against Limón’s bill, arguing that high cost loans, though expensive, helped them weather difficult financial times at an Assembly committee hearing last month.

But other borrowers report being stunned because of the cost that is steep of loans.