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U.S. Rep. Glenn Grothman leads battle to rein in lending that is payday

U.S. Rep. Glenn Grothman leads battle to rein in lending that is payday

Bipartisan bill would outlaw interest that is astronomical

MADISON – Wisconsin’s U.S. Rep. Glenn Grothman (R, Fond du Lac) introduced bipartisan legislation in Congress right now to rein in predatory, high-interest customer loans. Pay day loans have normal interest that is annual of 486 % in Wisconsin and, as well as automobile name and installment loans, trap numerous of Wisconsinites in hard-to-escape financial obligation every year.