Sioux Falls lawmaker proposes payday loan reform - KSFY News - Sioux Falls, SD News, Weather, Sports

Sioux Falls lawmaker proposes payday loan reform

Posted: Updated:

In January, we told you about Sioux Falls Representative Steve Hickey's payday loan reform proposal.

Today, he formally released House Bill 1255.

It would limit the amount a lender is permitted to issue to a customer based on their ability to repay the loan.

It would also place "common-sense" changes on the market.

Hickey says the legislation would allow short-term access to those who need it, but keep consumer protections are in place.

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KSFY. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service or our EEO Report.