Louisiana legislators look to expand ‘Payday’ lending, harming borrowers

Legislators are voting on a bill to expand predatory lending in Louisiana by allowing payday and car title lenders to issue “installment loans” with annual interest rates of up to 167 percent. Policy analysts with the Louisiana Budget Project said the bill will considerable harm vulnerable borrowers getting loans they can not afford. The bill is scheduled for final passage in the Senate on April, 16, 2018.

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