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What is Cap on Teacher Loan Interest Rates Proposed about?

Deputy Speaker Giorgidi Aggabao is seeking immediate passage of a bill that would regulate interest rates charged by lending institutions to teachers. The bill, House Bill 4876, aims to cap interest rates charged to public teachers in order to alleviate their economic hardship. Teachers are often prey to high-interest "payday" loans due to their meager salaries and need to support their families. The bill would limit interest rates on consumer loans to teachers to 18% annually and provide incentives to lend

Author

pribhor2

Language

EN