Poll Finds Broad, Bipartisan Service to own Reducing Payday loan Interest rates Out-of 260% so you’re able to 36% into the Rhode Island

PROVIDENCE, R.We.- After Condition Senator Ana Quezada and you may cosponsors lead S2166 last week, a bill who does cover payday loans from the thirty six% per year of the repealing authorization due to their multiple-digit annual interest rates, the heart to possess In control Financing, The economical Improvements Institute and Capital A good Money released a good poll next exhibiting greater assistance getting for example an assess.

Rhode Islanders are desperate to reduce rate of interest pay-day lenders may charge on the financing you to generally speaking trap borrowers for the long-name time periods from obligations, according to poll put out now. Continue Reading