Just forget about messing around with interest caps, why don’t we simply be rid of payday loan providers

Whenever had been the final time you took away that loan with a yearly interest of 292 %?

The answer is hopefully never for most people.

It offers revealed its intends to impose mortgage limit of 0.8 percent each day in the high-cost loan that is short-term, together with a necessity that borrowers not need to pay off significantly more than twice the first level of their loan. (more…)

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