More than a dozen states have put caps on payday loan interest rates, limiting and in some cases shutting down the industry in many states. The pitch to cap rates in Idaho hasn’t been successful. Still, big banks have started offering short-term, high-interest loans to make up for the loss in the payday lending industry. […]
About 40 demonstrators turned out as U.S. Bank held its annual shareholders’ meeting at Boise State University’s Morrison Center today. Protesters lined up outside one entrance, shouting a steady stream of chants: “Banks got bailed out, we got sold out!” and “Hey, hey, it’s not fair! U.S. Bank, pay your share!” At last year’s shareholder […]
U.S. Bank executives and shareholders are en-route to Boise for their annual meeting. The Minneapolis-based bank’s shareholders are scheduled to gather on Boise State University’s campus at 11:00 a.m. Tuesday. The Nation writes the big bank moved its meeting some 1,400 miles west this year in part to avoid protesters and groups opposed to the […]
Idaho lawmakers are considering a bill to cap how much interest payday lenders can charge borrowers. Many payday loan stores charge interest rates of up to 400 percent. House Bill 470 would cap interest rates at 36 percent. Bill co-sponsor Sen. Lee Heider (R-Twin Falls) told the Idaho Press-Tribune, “our society isn’t as well-off right […]
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