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Work to legalize ‘loan shark’ rates could bring a brand new strain of loan provider to Indiana

Work to legalize ‘loan shark’ rates could bring a brand new strain of loan provider to Indiana

Lawmakers must determine whether or not to pass hate crimes legislation, legalize medical marijuana and pass guidelines to permit activities gambling, among other key problems. IndyStar

Modify: The Indiana Senate narrowly authorized a measure Tuesday that will allow payday and subprime loan providers to charge interest levels on little loans at levels currently categorized as felony loan sharking.

The Senate voted 26-23 and only Senate Bill 613. (more…)