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Payday loan bill now moves to State Senate

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MADISON - Wisconsin state Senators are being pressured to put a cap on interest rates charged by payday lenders.

A Senate Committee held a hearing in West Allis last week on legislation that would impose new regulations on the industry. However, Bruce Speight with WISPIRG says the measures being considered falls short of addressing the real problem, which he argues is the interest rates charged on those loans.

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