Post by ferris1248 on Jul 1, 2024 8:23:29 GMT -5
"Florida Gov. Ron DeSantis signed a bill on Friday that could lead to borrowers paying higher interest rates on consumer-finance loans."
"The bill (HB 1347) was one of five that DeSantis signed Friday as he wraps up work on bills passed during the 2024 legislative session."
"Under current law, consumer-finance loan companies can charge 30 percent annual interest on the first $3,000 of principal amounts, 24 percent on amounts between $3,000 and $4,000, and 18 percent on amounts between $4,000 and $25,000."
"Under the bill, they can charge annual interest rates up to 36 percent on the first $10,000 of principal amounts, 30 percent between $10,000 and $20,000, and 24 percent between $20,000 and $25,000."
www.msn.com/en-us/money/markets/florida-gov-desantis-signs-consumer-finance-loan-changes/ar-BB1pa810?ocid=msedgdhp&pc=u531&cvid=f1a1cc3e76d44368a8706a29f3c06148&ei=12
"The bill (HB 1347) was one of five that DeSantis signed Friday as he wraps up work on bills passed during the 2024 legislative session."
"Under current law, consumer-finance loan companies can charge 30 percent annual interest on the first $3,000 of principal amounts, 24 percent on amounts between $3,000 and $4,000, and 18 percent on amounts between $4,000 and $25,000."
"Under the bill, they can charge annual interest rates up to 36 percent on the first $10,000 of principal amounts, 30 percent between $10,000 and $20,000, and 24 percent between $20,000 and $25,000."
www.msn.com/en-us/money/markets/florida-gov-desantis-signs-consumer-finance-loan-changes/ar-BB1pa810?ocid=msedgdhp&pc=u531&cvid=f1a1cc3e76d44368a8706a29f3c06148&ei=12
