Barbour signs bill with changes to payday lendingSunHerald.comOpponents of payday lending had lobbied lawmakers to let that industry's law expire next year. The new law gives consumers up to 30 days to repay loans and caps fees at $20 for every $100 borrowed, up to $250. For loans of $251 to $500, the fee will [...]
2011-2
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Payday lending bill clears Senate subcommittee – Iowa Independent
Payday lending bill clears Senate subcommitteeIowa IndependentLegislation that would cap interest rates on payday loans at 36 percent was passed by an Iowa Senate subcommittee Thursday, opening the door for a full committee hearing as early as next week. In general, a payday …and more » More: continued here
2011-2
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payday lenders must pay it forward via fees that fund grants – The News Journal
payday lenders must pay it forward via fees that fund grantsThe News JournalUsing fees from payday loan offices and other high-interest lenders, the state has awarded $500000 in grants to help Delawareans take charge of their finances. Gov. Jack Markell said the 13 programs, by nonprofit groups statewide, can change lives. …Nonprofits get financial education [...]
2011-2
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Nonprofits get financial education funding from payday lending fees – Cecil Whig
Nonprofits get financial education funding from payday lending feesCecil WhigIn 2009, Governor Jack Markell signed Senate Bill 108 requiring businesses that make short-term consumers loans (such as title loans and payday loans) to pay an annual high-cost loan license fee of $1500 for each licensed office they operate. … More: continued here