Florida State Loans Bill To Increase Interest Rates
New bill to increase lending cap on interest to Florida payday loans rates
Florida – Senator Mike Bennett had sponsored a bill that would allow the increase of interest rates on loans under $3000, which will intice banks and Florida payday loans operations to promote these loans. At the moment payday lenders in Florida are already allowed to charge higher interest on loans, as long as they do nto exceed the $2000 mark.
Quote from an article on Bredenton.com
“Payday lenders can already charge that rate on the first $2,000. Bennett’s bill would increase the cap. For amounts over $3,000, the interest rate drops to somewhat less onerous burdens but burdensome nonetheless. Bennett’s measure sets rates on loans of $3,001 to $4,000 at 28 percent, and from $4,001 to $25,000 at 18 percent.” Read more
There have been requests to kill this bill sponsored by Bennet, which according to the article in Bradenton.com, was filed by one of his staff before he could read it. Really? We have included some contact information for Senator Bennett in case you wish to ask how he has sponsored bill he had no time to read.
Contact:
bennett.mike.web@flsenate.gov
District Office:
Wildewood Professional Park, Suite 90
3653 Cortez Road West
Bradenton, FL 34210
(941) 727-6349
Senate VOIP: 42100
FAX (941) 727-6352
Statewide:
1-800-500-1239
Legislative Assistants:
Cheryl Ennis, Crystal Fitzgerald and Debra Scott
Tallahassee Office:
404 Senate Office Building
404 South Monroe Street
Tallahassee, FL 32399-1100
(850) 487-5078
Senate VOIP: 5078
Legislative Assistant:
Jacquie Connell
