The Obama administration recently announced new regulations that expand the Military Lending Act of 2006. The MLA caps payday loans to military personnel at a 36% annual percentage rate. Why do we ...
With efforts to implement a national rate cap stalled, more states are weighing bans on consumer loans with annual percentage rates above 36%. Lawmakers in New Mexico recently approved a 36% rate cap, ...
Strong majorities of Democratic, Republican and independent registered voters support a federal cap on interest rates that could pass the House later this year, according to poll results shared ...
On March 23, 2021, Illinois Governor JB Pritzker signed into law Senate Bill 1792, enacting the Predatory Loan Prevention Act (PLPA) and capping interest at an “all-in” 36% APR (similar to the ...
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