New Legislation Would Cap Interest Rates and Fees for All Consumer Credit Transactions
WASHINGTON, D.C.–(ENEWSPF)–April 9, 2013. Assistant Majority Leader Dick Durbin (D-IL), along with Senators Jeff Merkley (D-OR), Richard Blumenthal (D-CT) Sheldon Whitehouse (D-RI) and Barbara Boxer (D-CA), introduced the Protecting Consumers from Unreasonable Credit Rates Act today, a bill to eliminate the excessive rates and fees that some consumers are charged for payday loans, car title loans and other types of credit.
