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.
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