Bonamici reintroduces bill to fight online payday loans

Portland Business Journal:

Rep. Suzanne Bonamici this week reintroduced a bill to curb predatory online payday loans.

Bonamici, D-Beaverton, introduced the bill in September, but had to reintroduce it because a new session of Congress began on Jan. 3.

The bill is a companion to a Senate bill introduced by U.S. Sen. Jeff Merkley. Each would close loopholes that are exploited by online lenders. It would also enhance enforcement of usury laws that cap the interest rates charged to borrowers.

While serving in the Oregon House,…

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