Floor debate today in Wisconsin
February 16, 2010 | Wisconsin, industry, regulation | Comments (0)From the story posted last night:
Payday lending legislation will reach the Assembly floor for debate tomorrow, and Assembly Bill 447 could come to a vote.The bill does put a cap — of sorts — on pay day loan interest, preventing it from accruing after a loan has reached maturity.It does not, however, place a specific interest cap.Assembly Bill 447 also allows borrowers to cancel a loan up to a full day after they take it out, an added protection.
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