Legislation would drive up interest rates on some loans
by Associated Press Published: April 3,2012
Tags: banking, Banks, bill, financial institutions, interest, law, lawmakers, legislation, legislative, legislators, Legislature, lenders, loan companies, loans, state government
JACKSON — Mississippi borrowers could soon pay more for some kinds of loans if lawmakers approve a bill to allow higher interest rates. House Bill 1396 would allow loan companies to charge 99 percent interest for loans up to $1,500. The current cap is 36 percent. It would also change amounts that could be charged [...] [...]
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