Wisconsin battle heating up over payday loans

Wisconsin is turning up the heat on payday lenders. Today, Wisconsin, does not set an interest rate cap. Some legislators are talking 36%.

Nothing new here except for this comment:
In 2004, $500 million in loans were made by payday lenders in Wisconsin, with 80 percent of that revenue leaving the state because most of the establishments are owned by out-of-state investors.

I understand their point, but don’t really agree with it.

You can read the full article at HTR News.