Confused in Nevada

Handy Cash, of Nevada, filed for bankruptcy after the state dropped a $160k fine and under the stress of a class action lawsuit.

I’m getting some conflicting information in Nevada. One source tells me the rates are capped at 40% interest. If you go to CashNetUSA, they charge $25 per $100 loaned and you can renew up to 3 times. I don’t see it as a tough law to follow.

Here’s what I don’t get: “The newer rules also were supported by the Community Financial Services Association, said the organization’s Nevada Team leader, Mark Thomson.” The law can’t be that bad in Nevada.

You can read the full article here. If anyone knows the scoop, let me know.

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