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Bennett Jones LLP

Canadian Government (Finally) Provides Certainty on Criminal Interest Rates

Bennett Jones LLP on

As we have reported in prior blogs, the Government of Canada is moving forward with plans to lower the criminal interest rate to an annual percentage rate (APR) of 35 percent (the current criminal interest rate, being an...more

Bradley Arant Boult Cummings LLP

New Mexico Governor Signs Bill to Impose 36% Rate Cap and Tough Anti-Evasion Provisions

Bradley Arant Boult Cummings LLP on

Beginning next year, New Mexico will join a handful of other states (including, among others, California, Illinois, and Colorado) setting stringent interest rate caps on consumer loans. House Bill 132, which Gov. Michelle...more

Husch Blackwell LLP

Thought Leadership Illinois Legislative Update: 36% Rate Cap On Consumer Loans, Effective Upon Governor's Signature

Husch Blackwell LLP on

On January 13, 2021, the Illinois General Assembly passed the Predatory Loan Prevention Act, which imposes a 36% “all in” APR cap on all consumer loans, including closed-end and open-end installment loans, payday loans, and...more

Ballard Spahr LLP

California bill capping consumer loan interest rates moves closer to enactment

Ballard Spahr LLP on

AB 539 was cleared by the California Senate’s Banking Committee on June 26. The bill would change several aspects of the California Financing Law (CFL), including by setting new interest rate caps, imposing new rules...more

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