Shutting a loophole in Georgia’s usury laws and regulations that enables car name lenders to charge rates of interest since high as 300% is neither a Democratic nor Republican problem to State Sen. Randy Robertson.
The Republican lawmaker stated bringing car name loan providers beneath the state’s 60% rate of interest limit, which includes effectively prevented payday financing from taking hold when you look at the state, is mostly about assisting people away from hopeless circumstances.
“I saw the part that poverty played in criminal activity. Lots of people had been caught in generational poverty,” Robertson stated.
Robertson’s proposed legislation is component of the brand new revolution of state-level efforts to limit payday, automobile name along with other small-dollar, short-term, high-cost loans which have 
emerged whilst the Trump management backs down on federal legislation of these loan providers. Read More
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