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Minnesota House OKs payday loan regulations

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ST. PAUL -- The average Minnesotan could be limited to receiving four payday loans a year.

The Minnesota House approved  that restriction 73-58, with most Democrats in favor and most Republicans opposed. The bill would limit interest rates on loans to some specific types of people to 36 percent annually.

A similar bill awaits a Senate vote.

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Don Davis
Don Davis has been the Forum Communications Minnesota Capitol Bureau chief since 2001, covering state government and politics for two dozen newspapers in the state. Don also blogs at Capital Chatter on Areavoices.
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