Back to PAYDAYLOAN News ListPayday lending bill approved by D C CouncilMSN MoneyCentral - The D.C. Council overwhelmingly approved on Tuesday a bill that will require payday lenders to abide by the city's usury law, which puts a cap on interest rates for unsecured loans at 24 percent. The council voted 12 to 1 in favor of the bill. Marion ... Source:
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A payday loan or paycheck advance is a small, short-term loan (typically up to $1,500 in the U.S.) that is intended to bridge the borrower's cash flow gap between paydays. |