Conn. House Passes Payday Loan Bill Amid Feud With Tribe

Law360, Chicago (May 7, 2015, 4:15 PM EDT) -- The Connecticut House of Representatives on Wednesday passed a bill to rein in payday loan abuses and protect identity theft victims amid an ongoing legal battle between state regulators and payday lenders owned by an Oklahoma tribe.

The legislation, H.B. 6800, which would bar payday lenders from charging more than 12 percent annual interest on loans up to $15,000, was approved by a unanimous vote and moved on to the state senate.

Last month, the bill was touted by Gov. Dannel P. Malloy as he joined two local tribes in denouncing the tactics of Great Plains Lending LLC and Clear Creek...

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