A measure that would cap interest rates on all payday loans and cash advance transactions at 36% might never get a hearing in the Democratic-controlled House, despite the backing of Democratic Gov. Steve Beshear. Banking and Insurance Committee Chairman Jeff Greer said he has not decided whether he will hear House Bill 381, a [...]
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Bill Seeker Tighter Limits on Payday Lenders
Most finance industry insiders would agree that tighter guidelines and restrictions is on the way for payday loans. Auto title loans would be banned, payday loans would be limited to $600 and pay day lenders could not roll over a borrower’s debt into a new, larger loan under an Assembly bill unveiled Tuesday. Democrats who [...]
