The Minnesota Republic

Loan Rate Cap Would Be Disastrous for Minnesota Consumers Seeking Access to Credit

Loan Rate Cap Would Be Disastrous for Minnesota Consumers Seeking Access to Credit

George Merkt, Contributor January 25, 2023

Recently, legislation was introduced in the Minnesota Legislature (House File 290) which would place a 36 percent cap on the rate that lenders could charge consumers for short-term and small-dollar loans. This...

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House File 290