Wisconsin had been the only state not to regulate the industry

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online loans Not winning approval were measures to promote the use of renewable energy, to deregulate the landline telephone industry or to overhaul Wisconsin voting laws.The regulations on stores that offer payday and auto title loans came after years of debate and intense lobbying by the industry. Wisconsin had been the only state not to regulate the industry, which consumer advocates said allowed its rapid growth and trapped too many borrowers who take out short term loans with high interest rates in a cycle of debt.will be the most significant consumer protection bill this body has taken action on this session, said Assembly Majority Leader Thomas Nelson, D Kaukauna.Rep. Gordon Hintz, D Oshkosh, acknowledged the bill did not go as far as he would have liked but called it a compromise that would stop the industry most abusive practices.longer will we be hearing horror stories by people who are victimized by unscrupulous practices https://www.paydayloans16.com/, he said.Advocates for the poor said the bill did not go far enough because lawmakers declined to impose a cap on the interest rates that lenders can charge.Under the plan, loans will be limited to $1,500 or 35 percent of the applicant monthly income, whichever is less. online loans

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