Delaware Payday Loan Laws

The payday loan debate continues in Delaware:

The bill aims to limit the number of short-term loans a borrower can obtain to five $1,000 loans in a 12-month period. It also would establish a database to track the number of payday loans issued annually, the total amount of interest and fees paid to satisfy the loans and the number of borrowers who ultimately default. More…

Comments ( 2 )
  • Jain says:

    So are they goin to do the same for small loans at banks? If not this seems that the state is trying to favor 1 business over another. What does my state get the right to track my loans and tell me how many I can take out? Or transversly loans I can do as a pay pay loan operator?

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