- Bill would raise allowable rates of interest to 369 %
- Loan providers falsely claim the bill is really a вЂњconsumer protection lawвЂќ
- Predatory financing prohibited in 17 states as well as on army bases
Army of Lobbyists
A bill that passed the Pennsylvania state household early in the day this month that could enhance the permissible apr on tiny loans to 369 % will likely be held into the state senate before the next legislative session into the autumn, based on activists fighting resistant to the bill.
Presently, Pennsylvania caps loans at 24 % APR.