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Louisiana governor vetoes bill to allow high-cost installment loans

Wednesday, June 1, 2022
Polo Rocha | American Banker
Jared Pone

Louisiana Gov. John Bel Edwards has vetoed a bill that would have allowed consumer lenders to offer short-term installment loans with triple-digit interest rates. 

The bill sought to establish a new type of consumer loan of up to $1,500 and with a term of between 90 days and one year. Edwards, a Democrat, objected to the prices that the measure would have allowed lenders to charge.