Excessive cash advance interest should be restricted to Legislature: Editorial

Excessive cash advance interest should be restricted to Legislature: Editorial

  • Facebook
  • Twitter
  • WhatsApp
  • SMS
  • E-mail

Bobby Jindal starts legislature in Baton Rouge

Governor Bobby Jindal kicks from the session that is legislative Baton Rouge, Monday March 10, 2014 during the state Capitol in Baton Rouge.

(Ted Jackson, Nola.com | The Times-Picayune)

A lot more than 400 people filled Elm Grove Baptist Church March 18 showing help for reforming Louisiana’s payday financing laws and regulations, which presently enable excessive interest levels that trap borrowers in a period of financial obligation. A rally arranged by Together Louisiana received 100 supporters, including lawmakers, to your actions for the state Capitol Tuesday.

Their message is not difficult: Make loan that is payday fair.

Sen. Ben Nevers, who’s currently filed a bill to cap cash advance interest prices at 36 % yearly, stated Tuesday he’d introduce a bill to produce Louisiana’s loan-sharking legislation connect with those short-term loans.