Consumer advocates have formed a broad coalition that will push for interest rate limits on payday loans. Rates on those loans now can exceed 400 percent. More than a dozen groups announced Wednesday they have joined the coalition, including the Iowa Catholic Conference and the National Association of Social Workers. They say 16 senators have sponsored legislation requiring a 36 percent interest rate cap.
I guess it depends from the company you are having your cash loan and payday loan . There are still companies that didnt reached that 400 percent interesrt rate thus have good and fast service .
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