What Are Payday Loan Interest Rates? For the typical payday loan, the cost of borrowing will run much higher than alternatives. The FTC estimates that the average two-week payday loan carries a ...

Fewer Illinois residents using payday lenders after state capped interest rates High-cost consumer loans with interest high as 200% have plummeted since a state law passed in March 2021 put a ...

The Indiana House approved a measure that would allow payday lenders to loan up to $5,000 at rates as high as 149%. ... Payday stores: High-interest loans would 'fill the gap' ...

SPRINGFIELD -- On average, Illinois payday loan businesses charge a 520 percent interest rate, but one state senator has introduced legislation to cap that at 36 percent.

During the 2008 presidential campaign, Barack Obama promised to "cap outlandish interest rates on payday loans and to improve disclosure" of the short-term, high-interest loans. After years of ...

Michigan stands at a crossroads as it considers capping interest rates on payday loans at 36%. Senate bill 632 has already passed the Senate with bi-partisan support, and this bill and its ...

The bill would set a 36% annual percentage rate cap on payday loans in Michigan. Proponents characterize it as a way to rein in predatory lending.

Payday and car title lenders turned out in force early Monday morning to tell a Senate committee why they oppose a bill that would put a 36-percent limit on consumer loans under $50,000. "Thirty ...

Starting July 1, payday and title loan companies can charge 12 and a half percent acquisition fees and increase the cap on interest rates to 36 percent. Man’s arm nearly severed in machete attack ...

LINCOLN — Interest rates permitted on payday loans in Nebraska would be slashed under legislation introduced Tuesday by two new Omaha state senators. Legislative Bill 194 would cap interest ...

The Indiana House approved a bill that would allow payday lenders to loan up to $5,000 at rates as high as 149%. Such loans would be considered felony loan sharking under current Indiana law.