Jeff Amy/The Associated Press
JACKSON — Mississippi lawmakers may do not have to debate pay day loan interest prices once again.
Their state Senate provided last approval Friday to accommodate Bill 559, which deletes the requirement that lawmakers sporadically restore authorization for the loans. The 31-13 and goes to Gov. Phil Bryant for their consideration. It would be legislation instantly.
At Mississippi payday loan providers, borrowers will get short-term loans by composing checks that cover the quantity lent, plus charges. State legislation provides borrowers 1 month to settle loans, capping costs at $20 for each $100 lent as much as $250. Continue Reading