• 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 / Business / Looking for compromise over payday loans

Looking for compromise over payday loans

October 12, 2009 By WRN Contributor

A cloudy future for attempts to cap interest rates on short term loans in Wisconsin. State Representative Gordon Hintz (D-Oshkosh) says some people are really getting ripped off with interest rates that exceed 500 percent. Hintz’s bill would cap the interest rate on the short term loans at 36-percent but Assembly Speaker Mike Sheridan is saying that is “too low.” Hintz is hoping to work out a compromise.

The Oshkosh Democrat says the current system involves loans made with no consideration of income and with unreasonable payment terms which lead to a “debt trap.”

The payday lending community says they offer a service to people with poor credit and cannot access other types of loans.

AUDIO: John Colbert (MP3 :39)

Share this:

  • Facebook
  • Twitter

Filed Under: Business, Legislature





compeer financial celebrates beef month

Featured Stories

Wisconsin DNR warns of elevated fire danger this week

Baldwin announces U.S. Senate reelection bid

‘Tragic, terrible’ – Sheriff on Barron County police officers deaths

Two police officers killed in Barron County shootout

UW System Regents approve tuition increase

TwitterFacebook

Sports Headlines

Evers’ AmFam funding plan ‘a nonstarter’ with Assembly Republicans

New pitch clock could speed up MLB games this season, says UW expert

Giannis breaks franchise scoring record, Bucks beat Nets in OT

Wisconsin’s Davis declares for NBA Draft

Badgers to face Arizona State in Las Vegas Bowl

More Sports

Tweets by @WRN

Get our news delivered to your inbox:

Enter your email address:

Delivered by FeedBurner

Copyright © 2023 · Learfield News & Ag, LLC