Category Archives: Loans Installment

Brand Brand New Indiana Legislation Can Limit Interest Levels on Payday Advances

Brand Brand New Indiana Legislation Can Limit Interest Levels on Payday Advances

Brand brand New Indiana legislation could limit interest rates potentially on pay day loans, if help from consumer advocates is sufficient to counter the lobbyist argument up against the bill. Senate Bill 104 would cap Annual Percentage Rates at 36 per cent for loans as much as $605 having a two-week term. a similar bill had been killed a year ago and not reached the Senate.

The coalition of supporters when it comes to legislation includes organizations that are faith-based customer advocacy organizations, nonprofits, among others.