News Payday Loan Cap Initiative
posted by February 8 at 8:39 AMon
Seattle private investigator Richard Newland filed yesterday for a ballot initiative that would cap payday loan interest rates at 36 percent. His proposal closely resembles a bill that is currently struggling in Olympia, where a bi-partisan cadre of pols has been lending an ear to pleas of salvation from the the industry, which claims it would be put out of business by the cap. I’m not very handy with this web tool, but I will try to post the initiative here. Nope. Can’t do it. Will seek help and try later.
My profile of a chief payday loan cap opponent here.
More on the efforts to kill the bill here.