Economics in Quick: Bipartisan Coalition to Introduce Nationwide Cash Advance Bill

Economics in Quick: Bipartisan Coalition to Introduce Nationwide Cash Advance Bill

A bipartisan coalition of lawmakers intends to introduce a bill that will cap interest levels at 36 per cent yearly, NPR reports. Rep. Glenn Grothman, R-Wis., Sens. Jeff Merkley (D-Ore), Sherrod Brown (D-Ohio) and Jack Reed (D-R.I.), along with Rep. Jesús “Chuy” García (D-Ill.) will quickly introduce the this site Veterans and Consumers Fair Credit Act.

“It’s hard to assume that would desire to take a loan out with an intention price of 150 or 200 % per year,” Grothman told NPR. […]