new law just voted on in Montana

they voted on a bill that would cut interest rates to payday loans. The voters approved this bill so does this send a signal to the other states who do not have a bill limiting the interest rates. They want to cap the interest rates at 36% way to go Montana. Hope the other states follow suit and cap the interest rates.

Basically the same thing happened in Ohio, so the lenders started issuing short term loans so they wouldn't be required to follow the payday loan laws. It's a double edged sword.