Update: WI & Possible Payday Regulations
NEXT: Wisconsin please step to the plate. It appears WI is the next state to have lawmakers trying to pass a bill that would cap the interest rate on payday loans. Todaystmj news is reporting that Wisconsin’s new proposal would cap interest rates at 36 percent annually. Similar to other states and potential laws being passed, there is opposition to this potential law and it will all have to pan out in court. Leadpile will keep an eye on this.