Under $4000 = 99% interest rate; understood.

However, in another part of the story:
http://www.chicagobusiness.com/cgi-bin/news.pl?id=38175
it reads:
******************************************************************
The compromise, negotiated by bill sponsor Sen. Kimberly Lightford, D-Maywood, would impose a cap of 99% on consumer installment loans under $4,000 and 36% for those above that threshold. Previously, interest rates under the consumer installment loans were unregulated, leading payday lenders subject to rate caps to offer slightly longer-term loans in order to fall under the less stringent law.

Lenders operating under the consumer installment law charge rates as high as 700%, consumer advocates say.

The Payday Loan Reform Act, meanwhile, would be amended to increase the allowed terms of the loans to six months from four. Remaining the same is the limit of charging no more than $15.50 per $100 loaned out every two weeks.
****************************************************************

“Remaining the same is the limit of charging no more than $15.50 per $100 loaned out every two weeks.”

Isn’t this contradictory? Can you explain this please, Payday Pundit?