Fallin Vetoes High-Interest Financing Costs Forced by Nationwide Payday Lenders
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Gov. Mary Fallin vetoed a costs on Friday that could have created that loan with a 204 percentage yearly rate of interest.
In her veto information, Fallin blogged the bill, which reflects a national push from the payday credit markets for close laws, would write a high-interest item without restricting the means to access some other payday loan products.
a€?In fact, I do believe that many financial loans created by this bill could well be MORE COSTLY as compared to existing mortgage options […]