HB 2561 - Prohibits Predatory Loans and Caps Interest Rates at 36% - Oregon Key Vote

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Title: Prohibits Predatory Loans and Caps Interest Rates at 36%

Vote Smart's Synopsis:

Vote to pass a bill that prohibits predatory loans and caps interest rates at 36% in Oregon.

Highlights:

  • Prohibits state predatory loans and caps interest rates at 36% and specifies certain federal law to apply to consumer loans made in Oregon (Sec. 1-4).

  • Specifies that the provisions of this bill shall take effect 91 days following the final adjournment date of the current legislative session (Sec. 5).

Title: Prohibits Predatory Loans and Caps Interest Rates at 36%

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