Articles tagged as: payday loans
January 11, 2022
Advocates are again pushing for legislation that caps payday loan rates
Indiana is one of 25 states without strong rate caps on payday loans. This means lenders can have annual percentage rates as high as 391 percent.
Read MoreSeptember 13, 2021
Hoosiers For Responsible Lending Coalition Launches To Address Payday Lending
Hoosiers for Responsible Lending is a coalition of veterans organizations, faith communities, consumer groups and social service providers.
Read MoreMarch 16, 2021
Grant County Organizations Create Loan Program To Replace Emergency Payday Loans
The "Bridge the Gap" loan program works to create better financial literacy and help pull residents out of poverty.
Read MoreFebruary 2, 2020
Consumer Credit Bill Gets Amended, Rolls Back Some Loan Interest Rates
A Senate committee revamped a bill that caps interest rates on many types of consumer credit after pushback from advocates and several lawmakers. However, with the changes, some committee members still feel the bill doesn't go far enough.
Read MoreApril 15, 2019
Lending Expansion Bill Dies In The Indiana House
A bill that would have expanded what consumer advocates call predatory lending practices died in the Indiana House Monday.
Read MoreApril 9, 2019
Lending Bill Passes Out Of House Committee With Some Changes
The House Financial Institutions Committee took no public comment on the bill, which changes rules for high-interest, short-term loans.
Read MoreMarch 11, 2019
Coalition Urges Legislators To Kill Subprime Lending Expansion Bill
A coalition of veterans, church leaders and advocacy groups gathered at the Statehouse Monday to oppose legislation that would expand subprime lending in Indiana.
Read MoreMarch 11, 2019
Lawmakers Work To Expand Payday Lending Options Some Say Are Predatory
A bill to cap Indianas rate at 36 percent failed in the first half of the legislative session. Another bill, allowing different types of high-interest loans, passed out of the Indiana Senate.
Read MoreJanuary 28, 2019
Payday Lending Bill Would Shrink Lenders Interest Rate Cap
If passed, fees charged to users would shrink by more than 90 percent. Several states have passed similar laws and in 2006, then-President George W. Bush enacted a 36 percent cap that applies to active-duty military members.
Read MoreFebruary 27, 2018
Committee Chairman Kills Divisive Payday Lending Bill
The bill would create a new type of payday loan that would have allowed for annual percentage rates of up to 222 percent.
Read More