Economy
No relief from Wisconsin’s 565 percent payday loan interest under new rules
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Payday lenders in Wisconsin charge an average of 565 percent interest for short-term loans. New proposed federal rules to protect consumers will not change that.
Wisconsin Watch Media Partners Center (https://partners.wisconsinwatch.org/tag/state-department-of-financial-institutions/)
Payday lenders in Wisconsin charge an average of 565 percent interest for short-term loans. New proposed federal rules to protect consumers will not change that.
A proposal to relocate the Wisconsin Department of Financial Institutions to an office building in Middleton is being decried by state and local officials as a needless expense and contrary to a state policy that urges keeping agencies in central Madison. Two Republican members of the State Building Commission have asked for a delay in the process until more information was provided.