In In The News

When state lawmakers return to Lansing next month, they may consider capping interest rates charged by payday lending companies, who market themselves as providing easy ways to cover unexpected or emergency costs.

Interest would be capped at a 36% annual percentage rate if Senate Bill 632 or House Bill 5290 pass. Rates in some cases now can exceed 340%, according to Monique Stanton, president and CEO of the Michigan League for Public Policy.

Read more at MLive.com.