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A red state is capping rates of interest on payday advances: вЂThis transcends ideology that is politicalвЂ™
вЂonce you ask evangelical Christians about payday financing, they object to itвЂ™
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Rates of interest on pay day loans will likely be capped in Nevada, after passing of a ballot measure on Tuesday. An average of nationally, payday loan providers charge 400% interest on small-dollar loans.
Nebraska voters overwhelming thought we would place restrictions from the interest levels that payday loan providers may charge вЂ” rendering it the state that is 17th restrict rates of interest from the dangerous loans.