|
Written by Jamie Simpson, LawServer Attorney-Editor
|
|
Last Updated December 4, 2008 |
|
The Columbia Daily Tribune reports that Missouri Rep.-elect Mary Still intends to propose a bill that would restrict rates and fees charges by payday loan companies. Interest rates would be capped at 36 percent, which drastically reduces current rates reaching as high as 422 percent. The first-month fee of $15 per $100 borrowed would still be allowed, but consumers would no longer be allowed to renew the loans.
 |
|
|
Email
Print