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Category : payday alternative loans

18 Dec 2020

Home chairwoman backs rate of interest cap on pay day loans

Home chairwoman backs rate of interest cap on pay day loans The chairwoman associated with the House Financial solutions Committee stated she intends to advance a bipartisan bill to impose a strict restriction on interest levels whenever Congress reconvenes year that is next. Under federal legislation, loan providers are banned from providing loans to active-duty armed forces users with interest levels greater than 36 %. Nevertheless the bill, spearheaded by 16 Democrats plus one Republican, would expand that security to […]