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Home Commerce Committee Approves Brand Brand New Tools to handle Predatory Payday Lending

St. Paul, MN- Today, the home Commerce Committee authorized bipartisan legislation to deal with a harmful period of financial obligation brought on by predatory payday financing. Rep. Jim Davnie (DFL-Minneapolis) introduced HF 1501 , which will cap the attention price and fee that is annual payday advances at 36%. Minnesota Attorney General Ellison testified meant for the legislation.

“HF 1501 is just a sense that is common to predatory financing inside our state,” stated Rep. Sigue leyendo