State Bill Seeks Limits on Payday Lenders

Published on:
12 September 2006 at 10:19 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00004644-state-bill-seeks-limits-on-payday-lenders/

Promising fast, easy cash without a credit check, payday-loan stores have popped up on many street corners and strip malls in Oregon — so many that, at 323, they outnumber any single fast-food chain in Oregon.

Some lawmakers think that Oregon should join the 35 states that regulate payday lenders, and have introduced a bill to help protect consumers from falling too far into payday-loan debt.

One of the bills proposed this session would limit the fees, set a minimum term of one month and require consumers to pay off one-quarter of the loan before renewing it.

It also would decrease fees for renewing a loan.

For this complete story, please visit State Bill Seeks Limits on Payday Lenders.

State Bill Seeks Limits on Payday Lenders

Unknown Author

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