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Displaying results 1 - 10 of 100 items found.

1. Interest Rate Caps: To Advocates, a Solution, To Lenders, a Disaster

(Web Page; Thu Aug 26 12:34:00 CDT 2010)

Check cashers and payday lenders in California are exempt from the California Finance Lenders law that restricts interest on small loans to 28 percent, allowing them to charge annual rates of more than 400 percent. Ivan Barriga of the Mi...

2. Bill to Let Voters Decide to Cap Rates on Payday Loans

(Web Page; Fri Aug 20 14:17:00 CDT 2010)

A bill being introduced Feb. 22 by Rep. Mark Ferrandino (D-Denver) would allow Colorado voters to decide whether to restrict annual payday lending interest rates to 36 percent. Opponents predict the measure will force the payday lending ...

3. Battle Lines Form Over Rate-Cap Legislation

(Web Page; Fri Aug 20 14:06:00 CDT 2010)

The credit card, auto, and payday lending industries would be impacted by a bill to be considered by the Senate Judiciary Committee after Congress' recess. The legislation by Sen. Sheldon Whitehouse (D-R.I.) aims to prevent the issuance ...

4. Interest Rate Cap Proposal Gains Support

(Web Page; Thu Aug 26 12:33:00 CDT 2010)

Legislation penned by Wisconsin Rep. Gordon Hintz (D-Oshkosh) to rein in payday lenders has not been formally introduced but is steadily picking up support from fellow lawmakers. So far, 15 state senators and 43 Assembly members have add...

5. Colorado Legislators Rework Payday Loan Rate Cap

(Web Page; Fri Aug 20 15:43:00 CDT 2010)

The Denver House Judiciary Committee passed a reworked version of a bill limiting payday loan interest rates after the original version died on the House floor and was returned to the panel. The new proposal seeks a 45 percent interest r...

6. Senate Passes Payday Loan Regulations, No Rate Cap

(Web Page; Mon Aug 30 12:03:00 CDT 2010)

A bill set to be the first to regulate payday lending in Wisconsin passed the state Senate on April 13. The measure did not, however, include the 36 percent annual cap on interest rates supported by many advocates for the poor and a grou...

7. Andy Gehl and Bruce Speight: Protect Consumers With Payday Rate Cap

(Web Page; Fri Aug 20 13:25:00 CDT 2010)

Legal Aid Society of Milwaukee lawyer Andy Gehl and WISPIRG director Bruce Speight are calling upon the Wisconsin Senate to make a critical move in an effort to regulate predatory lending practices in the state. They support the enforcem...

8. Bill to Cap Payday Lender Rates Pulled

(Web Page; Thu May 06 14:38:00 CDT 2010)

A measure proposed by California Assemblywoman Nancy Skinner (D-Berkeley) that would cut interest rates on payday loans granted to unemployed borrowers was withdrawn before it could be scheduled for a hearing by the chamber's banking and...

9. Payday lenders pose as brokers to evade interest rate caps

(Web Page; Thu Jul 29 12:49:00 CDT 2010)

In recent years, a growing number of states have enacted interest rate caps and other protections to eliminate abusive payday lending practices that trap consumers in long term debt. Payday lenders repeatedly evade these rules, finding n...

10. Slaughter to Offer Bill to Cap Card Rates

(Web Page; Mon Aug 30 12:15:00 CDT 2010)

House Rules Committee Chair Rep. Louise Slaughter (D-N.Y.) has confirmed that she, along with Reps. John Tierney (D-Mass.) and Michael Capuano (D-Mass.), is hammering out a measure that would limit interest rates on credit cards to no mo...