• 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 / Senate passes payday loan bill

Senate passes payday loan bill

April 13, 2010 By Bob Hague

The state Senate has passed payday lending regulations. The bill’s author, Wauwatosa Democrat Jim Sullivan, said it will offer an array of protections, including where payday lenders may be located and limits on the size of loans to $1500 or 35 percent of monthly income.

But the billn (SB 530) includes no rate cap. West Bend Republican Glenn Grothman argued for that, and said it would drive the industry out of Wisconsin. “There are a variety of businesses or industries or whatever you call it that have been considered things that ought to have been shut down for three thousand years,” said Grothman. “It is light regulation, it is a light touch, but maybe its better than nothing,” said Beloit Democrat Judy Robson. “Well it better be better than nothing, because Wisconsin is the only state that doesn’t regulate payday loans.”

Senators passed the bill on a bipartisan 21-12 vote. A similar but not identical measure earlier passed the Assembly. Both chambers will have to agree by the end of the session in order for a bill to go to Governor Jim Doyle.

Bob Hague (:60 MP3) AUDIO: Bob Hague reports (:60 MP3)

Share this:

  • Facebook
  • Twitter

Filed Under: Business, Legislature



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