December 23

Nebraskans vote to limit ‘exploitative’ payday advances

Nebraskans vote to limit ‘exploitative’ payday advances

Voters in Nebraska sided with efforts to restrict loans that are payday passing an effort Tuesday that the Nebraska Catholic Conference had endorsed as a way to safeguard the indegent from becoming trapped with debt.

Over 80% of Nebraskan voters supported Initiative 248, which caps payday loans at a 36% apr, the Lincoln Journal-Star reports. Formerly, the appropriate financing price ended up being set at 400per cent. Continue reading

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