New rules in Wisconsin are being interpreted by lawmakers.
A new state law that restricts payday loans took effect January 1st – but it’s still not fully implemented, because officials cannot agree which lenders are affected.
Categorized | media coverage, State legislation, Wisconsin
Confused
Posted on20 January 2011.
One Response to “Confused”
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This is a false statement! The rules that were enacted have been implimented since Jan 1. Where the problem comes into play is that lawmakers are still deciding on whether to change what they approved or not! The rules that were approved and we are operating under may not be the same rules that we are forced to abide by after they finally have a meeting to approved what the Governor signed. At this point, most of the lenders are dual licensed with a loan license and a PDL license to ensure that they can stay in business. This allowed the state to double thier fee reveune from our industry.