Idaho’s payday lenders charge the interest rate that is highest in the country – a typical 582 per cent, based on a research through the Pew Charitable Trusts. The trusts discovered that Idaho, Nevada and Utah had the country’s interest rates that are highest for pay day loans; the 3 states are among seven that place no restrictions on those rates. Click below for the report that is full the Salt Lake Tribune through the Associated Press; the Tribune stated that 15 states either ban payday loans or limit rates of interest at 36 %. The news employs a pay day loan reform bill which has no caps on interest levels passed the Idaho Legislature in 2010 amid much debate; opponents stated the bill, supported by major payday lenders, did not get far sufficient to reform the business enterprise in Idaho. SB 1314, which passed the home by simply one vote, had been finalized into legislation by Gov. Read More …