Payday Loan Industry Watch Home News: Archive News: Recent News: RSS Newsfeeds News: Archive News: By State News: By Big 7 Podcasts Reviews Tips Links
About Us
Contact Us
Donate/Sponsor
Site Help
Find a Lender
Header

Payday loan regulations win final approval

April 20, 2006 - Salem, Oregon

A bill to limit interest on payday loans to 36 percent a year and enact other consumer protections for borrowers of the loans won final approval Thursday in the Oregon Legislature.

The bill, which now goes to Gov. Ted Kulongoski, won final approval after backers said the Legislature needs to protect consumers who often end up hopelessly in debt to lenders who at times charge more than 500 percent interest.

Opponents of the bill said payday loans sometimes are the only source of small, short-term cash advances for people who run into financial emergencies and that the bill will run many payday lenders out of business.

News Source

The Oregonian, AP Reporting

Related Stories - Oregon

Return

See: Recent News | Archived News | RSS Newsfeeds | News by State
Go to PLIWatch.org home.

E-mail This Page Open a new window and send this page to a friend.
Share this page by E-mail.
Podcasts Podcasts page.
Interview with David Farias - Founder, FYGO.com
Payday loan opponents caution people against taking payday loans. We interviewed David to better understand the practice and viability of an emerging source for loans: The Internet social lending network.

Interview with Pete Kowenhoven - Special Agent, FBI
Interview with Dr. Tom Lehman - Author of 'In Defense of Payday Lending'
Interview with Bill McCloskey - Email Data Source President and CEO
Reviews Reviews page.
July 21 - WeGiveCash claimed we could get $1,500. But, after entering qualifying customer information, we were declined and then forwarded to another Web site to re-apply.
small payday loan industry watch logo
Recent RSS Newsfeeds Archive Shown by State Shown by 'Big 7'
Home News & RSS Podcasts Reviews Tips Links Find a Lender About Us Contact Us Donate / Sponsor Site Help
Terms of Use Privacy Policy Site Map copyright © 2005-2022 pliwatch.org all rights reserved Updated: Nov 22, 2022 07:57 EST