Policy Quick: Installment Loan Act Would Expand Predatory Lending in Louisiana

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Policy Quick: Installment Loan Act Would Expand Predatory Lending in Louisiana The Louisiana Installment Loan Act ( home Bill 501 / Senate Bill 365 ) would expand the pay day loan industry in Louisiana by enabling payday loan providers and vehicle name loan providers to provide longer-term “installment loans.” Installment loans act like payday that is high-interest, but enable borrowers …