Finance committee proposes 20% rate of interest cap on pay day loans

Finance committee proposes 20% rate of interest cap on pay day loans

Early in the day this the finance ministry put forward a bill to place a 30 percent cap on interest rates on quick loans month.

Finland’s Finance Committee said it wishes lawmakers to think about whether customer usage of alleged loans that are payday really necessary or appropriate. The committee proposed measures that are several help deal with dilemmas associated with the quick loans that carry high rates of interest and charges, an additional make an effort to handle the main dangers and conditions that payday advances can pose. Read more