16 Mar

Policy professionals stated the payday financing industry crafted the legislation that is new.

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Gov. Mary Fallin vetoed a bill on Friday that will have produced that loan having a 204 per cent interest rate that is annual. In her own veto message, Fallin had written that the bill, which reflects a push that is national the payday lending industry for comparable legislation, would produce a high-interest item without limiting usage of other pay day loan services and products.

“In reality, i really believe that a number of the loans developed by this bill could be MORE COSTLY than the loan that is current,” she had written. Read More