Bill tabled in South Dakota
February 17, 2010 | South Dakota, industry | Comments (0)From the story:
A state Senate committee tabled a bill Tuesday that would curtail the amount of interest payday lending businesses in South Dakota could charge.
The bill, which caps title and payday lending at a 72 percent interest rate, came before the Senate Commerce Committee where it was introduced by Sen. Sandy Jerstad, D-Sioux Falls.
She said she suspected the legislation would not be popular in a state that had loosened its banking laws.
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