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Finance committee proposes 20% rate of interest cap on pay day loans

Finance committee proposes 20% rate of interest cap on pay day loans Earlier in the day this thirty days the finance ministry submit a bill to position a 30 % limit on interest levels on quick loans. Finland’s Finance Committee stated it desires lawmakers to think about whether customer use of so-called payday advances is actually necessary or appropriate. The committee proposed a few measures to help deal with issues associated with the quick loans that carry high interest levels [...]

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