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2011 House Bill 1918: Limiting the interest rate on small loans
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- Introduced by Rep. Sherry Appleton (D) on February 10, 2011, to provide that a check casher or check seller who has obtained the required small loan endorsement may charge interest or fees for small loans not to exceed in the aggregate thirty-sixpercent per annum. (Companion: SB 5602).
- Referred to the House Business & Financial Services Committee on February 10, 2011.
Comments
1) Re: 2011 House Bill 1918 (Limiting the interest rate on small loans) by nuggetbob on February 12, 2011Dont you think 36% is rather high. You are critics of banks etc. but you allow the citizens of this state that you are suspose to be protecting and then allow a maximum of 36 percent interest. We get up to 1% in banks for our savings... no one should be allowed to charge in this state over 12%. You guys are in concert with them loan shark crooks!
Introduced in the House on February 10, 2011
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