Payday financing bill makes training more equitable for borrowers, says ICC

Payday financing bill makes training more equitable for borrowers, says ICC

By Brigid Curtis Ayer

A bill to produce lending that is payday equitable for borrowers is in mind in the Indiana General Assembly this season. The Indiana Catholic Conference (ICC) supports the proposition.

Senate Bill 325, authored by Sen. Greg Walker, R-Columbus, would cap charges plus the interest gathered in the loan to a 36 per cent percentage that is annual (APR).

Read morePayday financing bill makes training more equitable for borrowers, says ICC