See the full post here. On November 8, 75% of South Dakota voters approved reducing the cost of payday loans from 574% to 36% annually. At the same time, a significant majority of South Dakotans rejected the payday lenders’ proposal to allow permanent unlimited rates. The rate cap ballot measure approved by South Dakota voters will cap the annual interest rates at 36% for payday, …
Payday Reform News November 5-11
Highlight In a hard fought battle where out-of-state predatory lenders spent over $3 million on advertising and confusion, South Dakotans overwhelmingly voted to put a 36% state rate cap on payday and car title loans, joining 14 other states that have similar caps: November 9, SDPB Radio: Voters Approve Payday Lending Rate Cap Steve Hildebrand, who has been a leader …
Payday Reform News: October 29- November 4
Highlight November 1, WABE 90.1: Georgia Supreme Court Rules Company Violated Payday Lending Ban The Georgia Supreme Court has ordered Western Sky Financial to pay $15 million, which is about the amount that the company took from borrowers since the case was first filed. More Coverage: The Atlanta Journal-Constitution: Georgia Supreme Court Blocks South Dakota Payday Lender Atlanta Business Chronicle: …