Drum roll, please!
February 9, 2010 | Wisconsin, industry, regulation | Comments (1)The Wisconsin bill was unveiled today:
Wisconsinites could only have one payday loan at a time – and it can be no higher than $600 under a bill unveiled at the State Capitol Tuesday morning. The measure also makes lenders disclose all their fees and interest rates. And while there would not be a government limit on interest, lenders would still be barred from rolling over an unpaid loan into a larger contract with higher interest payments.
No industry comments so far that I can tell.
Comments»
What if I went and got an internet loan in addition to the one I have out in Wisconsin? What if I went across the border to Iowa, Minnesota, Illinois or Michigan and got additional loans? Why does the government have to tell me how many companies I can “Legally,” do business with?