Categories

A sample text widget

Etiam pulvinar consectetur dolor sed malesuada. Ut convallis euismod dolor nec pretium. Nunc ut tristique massa.

Nam sodales mi vitae dolor ullamcorper et vulputate enim accumsan. Morbi orci magna, tincidunt vitae molestie nec, molestie at mi. Nulla nulla lorem, suscipit in posuere in, interdum non magna.

Payday loan rules encouraged – Brainerd Dispatch

ST. PAUL – Minnesota Senators are awaiting a vote on new regulations for payday loans.

The House passed a bill that would reduce some loan interest rates, require that a lender make sure a person has the ability to repay a loan and limit the number of payday loans a lender can make to a person each year. Committee testimony indicated that some people get a new loan as soon as they pay off another one.

“The House has passed a very strong bill on payday lending, putting some limitations on what these lenders can do to vulnerable Minnesotans, both in terms of lowering the interest rates (and reducing) the number of loans they can make per month,” Gov. Mark Dayton said. “I urge the Senate to put the House bill to a vote and see whether legislators of both parties are willing to stand up to protect the interests of the people of Minnesota, rather than the economic interests of the payday lenders.”

Read this article:
Payday loan rules encouraged – Brainerd Dispatch

Comments are closed.