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

admin auto title loans online Leave a Comment

St. Paul, MN- Today, the home Commerce Committee authorized bipartisan legislation to handle a harmful period of financial obligation brought on by predatory payday financing. Rep. Jim Davnie (DFL-Minneapolis) provided HF 1501 , which will cap the attention price and yearly cost on pay day loans at 36%. Minnesota Attorney General Ellison testified meant for the legislation. “HF 1501 is …