Dueling bills in Wisconsin

As read at WisPolitics.com:

Senate Bill 530 currently calls for a $900 limit on the size of payday loans, place zoning restrictions on payday lenders and allow one rollover loan for customers who fail to pay initial loans. The state Assembly’s version, Bill 447, would impose a limit on loans of $600 or 35 percent of biweekly income, whichever is less, and would ban rolling over loans from one paycheck to the next, as well as auto title loans. But neither proposed bill has included restrictions on initial interest rates.

It would be a shame if they were to ban title loans.   Sure, you can lose your car, but I think people realize that.  The reality is that most lenders do not want the car.  They want to get paid.

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