TheState.com reports that a senate subcommittee removed half of a provision that would limit borrowers to 25% of their gross paycheck. Now the bill limits a loan to a $500 max.
Other provisions worth noting is a 2-day cooling off period.
I think Jamie Fulmer of Advance America says it best, “It still places a whole host of arbitrary limits on the industry.”
Regardless, it looks like the state is willing to atleast work with both sides.
