Idaho’s Payday Lenders Can Face Interest Cap

Idaho’s Payday Lenders Can Face Interest Cap

Idaho lawmakers are looking at a bill to cap just how interest that is much loan providers may charge borrowers.

Numerous loan that is payday charge interest levels as much as 400 %. House Bill 470 would cap rates of interest at 36 %. Bill co-sponsor Sen. Lee Heider (R-Twin Falls) told the Idaho Press-Tribune, “our society is not as well-off at this time because it was, so individuals are being taken advantage of.”

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