Wisconsin update:
April 21, 2010 | Wisconsin, industry, regulation | Comments (0)Assembly sends bill back to Senate:
The Assembly voted to regulate both payday and auto title loans early Wednesday as representatives continue to differ with senators over how to rein in short-term loans.
The Senate voted last week to put limits on payday loans but not vehicle title loans. The Assembly amended the bill to include auto title loans and sent it back to the Senate. The Assembly passed its version of the bill 60-38 around 3:45 a.m.
Both houses are controlled by Democrats, but they have had sharp disagreements over how to regulate payday and auto title loans, leaving open the possibility they won’t get anything done before the regular legislative session ends Thursday.
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