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In the News: Effort to legalize 'loan shark' rates could bring a new breed of lender to Indiana

The Indiana Senate is poised to vote on a measure Tuesday that would allow payday and subprime lenders to charge interest rates on small loans at levels currently classified as felony loan sharking. 

The payday loan industry has pushed for similar legislation for the past three years, only to be rebuffed amid concerns from social service organizations and others who see such high-interest rates as predatory.

Read the full article on the Indy Star’s website.

Kathleen Taylor