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Nevada lawmakers discuss bill to cap payday loans
Posted: 6:05 AM, Feb 07, 2019
Updated: 2019-02-07 14:05:18Z
A proposed state bill that would rein in payday loans has been introduced in Carson City.
CARSON CITY (KTNV) — A proposed state bill that would rein in payday loans has been introduced in Carson City.
It's a move to keep people out of what some say is a "cycle of poverty."
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Some state lawmakers want to cap the interest rate of short term loans at 36%. Some interest rates are currently at 500% or higher.
Similar proposals have been introduced before but ultimately failed.
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