Legislators seek interest cap on payday loans.

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  • Additional Information
    • Subject Terms:
      NEW Hampshire
    • Subject Terms:
      SMITH, David; KAELIN, Michael
    • Abstract:
      The article reports on the actions of legislators over the issue on the increasing growth of short-term high-interest lenders over payday loans in New Hampshire. Regulators required loan companies to reveal the total amount of the rates which they get from borrowers. Bills were proposed to combat the problems such as the bill by David Smith which seeks to limit interest rates until 36 percent. Michael Kaelin proposed a bill which seeks to establish a criminal usury rate of 30 percent.