Geoff Dornan
gdornan@nevadaappeal.com

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April 7, 2013
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Senate bill would regulate firms that offer consumer lawsuit loans

The Senate Commerce and Labor Committee was urged Saturday to regulate companies that offer people a loan to cover expenses while awaiting their eventual settlement from insurance companies. Senate Minority Leader Michael Roberson, R-Las Vegas, said many of those companies claim they are exempt even from the 40 percent interest rate in statute for those kinds of loans and charge customers well over 100 percent. “Payday loan companies are regulated. Title loan companies are regulated,” Roberson said. “This industry is not regulated.” His original version of Senate Bill 361 would have simply put those companies out of business by declaring …

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The Nevada Appeal Updated Apr 8, 2013 12:49PM Published Apr 10, 2013 02:43AM Copyright 2013 The Nevada Appeal. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.