Bill would expand online payday lending

Bill would expand online payday lending

Nebraska providers of short-term, delayed deposit loans—often called payday lenders—would be in a position to provide online loans under a bill considered because of the Banking, Commerce and Insurance Committee March 12.

LB379, introduced by Seward Sen. Mark Kolterman, will allow a payday lender which has a place that is principal of in their state to provide its products online. The bill additionally would mandate that most payday loan providers make use of the nationwide Mortgage Licensing System and spend a extra certification charge become decided by hawaii Department of Banking and Finance. Continue reading Bill would expand online payday lending