Payday financing industry could see price caps, database under legislative proposals
Into the weeks that are coming Nevada lawmakers might find 1000s of bright-yellow postcards dropped in their mailboxes.
The postcards, delivered by people in the group that is inter-faith for the normal G d, should include handwritten records and needs for legislators to aid more capital for K-12 education, affordable housing taxation credits and extra limitations on payday financing.
It’s section of a renewed work by modern teams and community activists to enshrine new limitations on Nevada’s payday loan industry, 2 yrs after similar efforts to rein the industry in t k place in flames. A new wrinkle is present — whispers of a future ballot question and campaign to cap interest rates in the state if sufficient progress isn’t achieved through the 120-day legislative session although the concepts and battle lines are similar to those seen in the 2017 Legislature.
Democratic lawmakers have actually introduced a set of bills that will have major results in the lending that is payday, including a proposed database on high-interest, short-term loans in addition to a proposed 36 per cent rate of interest limit in the loans.Read more
