Payday loans draw fire at legislature

Based on legislative testimony heard at the Capitol Monday, payday and title loan companies are either predatory lenders who take advantage of down-and-out Montanans, or they fill an important niche in the loan industry by giving borrowers a necessary last resort when times are tough.

 

Members of the House Business and Labor Committee will have to decide who to believe when they vote on a measure that would cap the interest rate on payday loans at 36 percent annually. Click here for the full Great Falls Tribune Article.