Committee backs resolution urging limits on predatory lending and support for responsible lenders
Kenosha County’s legislative committee approved a resolution urging the state to close predatory-lending loopholes, endorse a 36% annual interest cap, and encourage banks and credit unions to offer safer alternatives; members cited APRs as high as several hundred percent and added language to encourage financial institutions to support reform.
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A resolution urging the Wisconsin Legislature to tighten consumer-lending rules and curb predatory practices won committee approval after supervisors debated amendments and co-sponsorship.
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