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Thursday, March 29, 2007

Payday loan companies targeted

Some charge interest rates of 900 percent, lawmakers are told

JOE MULLIN
Associated Press Writer

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Copyright 2012 Nevada Appeal. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Nevada Appeal March, 29 2007 12:36 pm

Payday loan companies targeted

Some charge interest rates of 900 percent, lawmakers are told

Cathleen Allison/Nevada Appeal Mark Mowatt, left, and Bob Ostrovsky testify during the Assembly Commerce and Labor committee hearing Wednesday at the Legislature. Lawmakers are considering a measure that targets payday loan businesses that are evading controls imposed by Nevada legislators in 2005.
Cathleen Allison/Nevada Appeal Mark Mowatt, left, and Bob Ostrovsky testify during the Assembly Commerce and Labor committee hearing Wednesday at the Legislature. Lawmakers are considering a measure that targets payday loan businesses that are evading controls imposed by Nevada legislators in 2005.ENLARGE
Cathleen Allison/Nevada Appeal Mark Mowatt, left, and Bob Ostrovsky testify during the Assembly Commerce and Labor committee hearing Wednesday at the Legislature. Lawmakers are considering a measure that targets payday loan businesses that are evading controls imposed by Nevada legislators in 2005.
Several Nevada loan companies are evading the state's payday loan law by charging interest rates up to 900 percent, and must be stopped, lawmakers wer...

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