Moneytree, A seattle-based payday loan provider, recently lobbied the Washington State Legislature to cut back restrictions on pay day loans enacted last year.
Two bills had been introduced through the 2015 session that could repeal the two-week limitation on payment plans and authorize installment loans that may be paid down during the period of per year. Despite some initial success, the push of these brand new payday lending laws and regulations stalled inside your home. While HB 1922 never ever escaped the home Rules Committee, an alternative for SB 5899 that authorized six-month installment plans was authorized by the committees of jurisdiction both in the senate while the household, and handed down the senate flooring. Continue reading