Payday lenders operating in Wisconsin will face new regulations, under a bill signed into law by Governor Doyle on Tueday. Doyle also used his veto pen to make some changes to the measure, with a major revision being to completely ban auto title loans in Wisconsin.
The original bill passed by the Legislature last month limited auto title loans to 50-percent of the vehicle’s value. But Carrie Templeton, the Governor’s Legislative Director, says Doyle felt that aspect of the industry represented some of the most predatory lenders in the state. [Read more...]
