36% has come to pass in a few states. In Ohio, they’re fighting for their lives with Ohio HB 209.
Wisconsin is doing the 36% dance.
Here are some good comments from New bill confronts payday loan industry:
“This story does not share the argument of payday lenders, who favor reform in Wisconsin. The problem is the 36 percent rate cap, which is a ban of the payday loan product and strips citizens of a needed short-term credit product.” Ryan 458
“Put this kind of business back in the hands of those who know how to get those loans paid – the loan sharks. The loan sharks can charge lower rates since they collect a greater portion of the debts. It make take a beatdown, a missing finger or busted kneecap to ensure that those debtors make their payments, but it’ll be better for them in the long run AND they will learn to be more responsible with their credit!” Anonymous
Just for fun, let’s take a shot a ObamaCare:
“If you “really don’t appreciate big brother making my decisions and dictating” then I don’t think you’ll like Obamacare or much else of the coming Obamanation.” Anonymous
