36% cap

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South Dakotans Vote To Cap Payday, Auto-Title Loan Interest Rates At 36%

More than a dozen states and the District of Columbia currently prohibit payday lenders and other short-term loan companies from charging exorbitant interest rates on their financial products. Last night, the residents of South Dakota added their state to that list, voting to cap interest rates on short-term loans at 36%.  [More]