Michigan League for Public Policy: League Praises Bipartisan Senate Passage of Bill Capping Payday Loan Interest Rates
March 15, 2024
March 15, 2024
LANSING, Michigan, March 15 -- The Michigan League for Public Policy issued the following statement on March 14, 2024:
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The Michigan League for Public Policy issued the following statement on the Michigan Senate's passage of Senate Bill 632, which would cap the annual interest rates that payday lenders can charge to Michiganders at 36%, inclusive of all fees. Currently, the interest rates for payday loans in Michigan average 370%. The statement below can be attribu . . .
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The Michigan League for Public Policy issued the following statement on the Michigan Senate's passage of Senate Bill 632, which would cap the annual interest rates that payday lenders can charge to Michiganders at 36%, inclusive of all fees. Currently, the interest rates for payday loans in Michigan average 370%. The statement below can be attribu . . .