Payday loan legislation dealt setbacks

A legislative effort to place restrictions on payday loans was dealt a setback earlier this week, as Assembly Speaker Mike Sheridan, a Democrat from Janesville, assigned the bill to a committee of lawmakers skeptical of the effort. While the bill is far from dead (43 of 99 Assembly members have…

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Rep. Hintz to host predatory lending briefing

State Rep. Gordon Hintz (D-Oshkosh) will be hosting an informational briefing on predatory payday lending reform tomorrow in Madison: **MEDIA ADVISORY** Informational Briefing on Predatory Payday Lending reform Madison – On Wednesday, September 16, 2009, supporters of the effort to reform payday lending in Wisconsin will hold a briefing for…

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Payday lenders double contributions to state lawmakers

Fresh off the heels of the introduction of legislation that would cap the interest rate that can be charged by payday loan companies comes a report from the Milwaukee Journal Sentinel have more than doubled their contributions to state lawmakers in the past year: Payday lenders doled out more than…

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Wisconsin Catholic Conference supports payday loan limits

The Wisconsin Catholic Conference has come out in support of legislation imposing reasonable limits on interest rates charged by payday loan stores, which under current law enjoy no limits on the interest rates they can impose: Arguing “needy families in Wisconsin should not be abandoned to predatory practices most of…

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Rep. Hintz introduces payday loan legislation

A few weeks ago, I wrote about an effort that was underfoot in the State Assembly to institute common-sense limits on the interest rate imposed by payday loan stores, which have sprouted up in Wisconsin like weeds since Wisconsin’s cap on interest rates for consumer loans was repealed by the…

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Payday loan legislation in the works

How would you like to borrow money at an interest rate of 500 percent? Does that sound like a raw deal? It does to me, and that’s why I’m happy to see some lawmakers in Madison taking steps to institute common-sense limits on the interest rate imposed by payday loan…

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