cn|2 Pure Politics: Greer says bill to cap payday lending interest at 36% will likely get a hearing

Legislation filed Wednesday that would cap the amount of interest payday lenders could charge at 36 percent will likely get a hearing in the House banking and insurance committee this year, the panel’s chairman said on Pure Politics.

Rep. Jeff Greer, the Brandenburg Democrat who heads up that committee, said unlike last year when he didn’t call the issue for a hearing, lawmakers will have cold, hard statistics to work with this time to help them make the right decision. cn|2 Pure Politics January 5, 2011