LJS: Payday lending bills target industry
Feb 24, 09:13 AM CST
“One bill (LB293), sponsored by Lincoln Sen. Danielle Nantkes, would effectively end the payday lending business in Nebraska by capping the annual interest rate at 36 percent a year. Currently the effective interest rate, based on legally allowed fees, is 460 percent .
The other bill (LB460), sponsored by Lincoln Sen. Amanda McGill, would require a state database to help prevent people from getting multiple loans from different lenders, now illegal but not enforceable.”
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Payday lending bills target industry
– by Lisa Olivares | Send this to a friend
