Nebraska Voters Right Right Back 36% Price Cap For Payday Loan Providers

Nebraska Voters Right Right Back 36% Price Cap For Payday Loan Providers Law360 (4, 2020, 6:42 PM EST) -- Voters in Nebraska on Tuesday overwhelmingly approved a ballot measure to establish a 36% rate cap for payday lenders, positioning the state as the latest to clamp down on higher-cost lending to consumers november. Nebraska's rate-cap Measure 428 proposed changing their state's rules to prohibit certified deposit that is"delayed" providers from recharging borrowers annual portion prices of greater than 36%. The initiative, which had backing from community groups as well as other advocates, passed with nearly 83% of voters in benefit,…