• Home
  • News
    • Politics / Govt
    • Legislature
    • Crime / Courts
    • Health / Medicine
    • Archives
  • Sports
    • Badgers
    • Packers
      • Titletown Report
    • Brewers
  • Contact Us
    • Reporters
  • Affiliates
    • Affiliate Support

Wisconsin Radio Network

Wisconsin News and Sports

You are here: Home / Politics / Govt / Senate Dems target payday loan industry

Senate Dems target payday loan industry

February 22, 2007 By WRN Contributor

A new effort to crack down on the payday loan industry is part of a consumer protection initiative announced by Democrats in the Wisconsin Senate. There have been efforts in the Senate before, from Republican Glenn Grothman, and Democrat Dave Hansen , to toughen regulation of the industry. Senate Majority Leader, Judy Robson, said many people who take such payday loans can't really afford to repay them, and get trapped in a cycle of making interest payments at rates of up to 500% to 700% .

Senate Minority Leader, Republican Scott Fitzgerald, said they'll have to look the proposal over closely. "Our concern has always been, how does it curtail the private sector? And if they're really that much opposed to that whole concept, they should make the entire industry illegal in the state." Democrat Jim Sullivan of Wauwatosa said the payday loan business model counts on people getting locked into a rollover cycle, and that needs to be addressed. He also said payday lenders can be a drain on local economies. The restrictions are are part of a consumer protection agenda from Senate Democrats. Other initiatives include privacy protections for people who have their taxes professionally prepared, exempting e-mails addresses from information made available by the DNR, and restrictions on companies which sell magazine subscriptions.

AUDIO: Bob Hague reports (1:20 MP3)

Share this:

  • Facebook
  • Twitter

Filed Under: Politics / Govt



Featured Stories

Wisconsin public health officials urge continued caution as COVID-19 variants drive an increase in cases

State agencies defend budget priorities at Republican controlled Joint Finance Committee

Alvarez finalizes retirement plans from UW (AUDIO)

Brewers send Arcia to Atlanta

UW Volleyball team awarded the top overall seed in NCAA Tournament

TwitterFacebook

Sports Headlines

Alvarez finalizes retirement plans from UW (AUDIO)

Brewers send Arcia to Atlanta

UW Volleyball team awarded the top overall seed in NCAA Tournament

Brewers open their season today, after COVID scare (AUDIO)

Caufield signs with Montreal Canadiens

More Sports

Tweets by @WRN

Get our news delivered to your inbox:

Enter your email address:

Delivered by FeedBurner

Copyright © 2021 · Learfield News & Ag, LLC