Controversial payday lending bill approved by Senate
Published: February 16,2011
Eight senators voted against the bill today. The House passed the bill Monday.
The bill would establish a tiered system of caps on fees for payday loans, based on the amount borrowed. The bill also requires lenders to provide borrowers with information on their loan, including the interest rates, the type of loan and state legal authorities.
Sen. Walter Michel, a Jackson Republican, says the bill would generate savings for Mississippi consumers.
The bill is House Bill 455.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- BILL CRAWFORD: Dan Jones not the angel he is portrayed to be
- JOSH MABUS: Bill Murray and business misfits
- The Dan Jones-IHL saga: Is this the story that started it all?
- Analysis: Closed meetings can feed false public impressions
- DAVID DALLAS — From Dan and Dixie with love
- Email from Nash to Delta Council’s Morgan included in DHA court file
- Bill would use casino taxes for bridges, little for tourism
- Suit against Kemper employee Brett Wingo is dismissed
- Statue depicts famous duel that originated 'Bowie knife'