Keizer City Will Not Jump The Gun on Payday Laws
Leaders of Keizer city, Oregon have decided that a state law restricting payday loans is enough for their city and have decided against further discussion of a separate law with an earlier time frame. Oregon’s payday-loan law will take effect in July. It sets a $10 loan fee for each $100 borrowed, caps interest at 36 percent annually and requires a minimum loan duration of 31 days. Statesmanjournal.com reports:
Councilors had two main concerns, Keizer Mayor Lore Christopher said. "There were suggestions that this could become a campaign issue," she said. "And there just wasn’t any support for it." The other issue is the use of resources toward something that already has been decided.
Read more:Keizer will await 2007 payday-loan law
If you enjoyed this article, please bookmark it at del.icio.us »
