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Senate Bill Would Tighten Payday Lending Laws

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Associated Press
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You see them on every street corner in Nevada – short-term, high-interest loan businesses, also known as payday loans.

Nevadans for the Common Good estimate that there are more payday loan centers in Nevada than Starbucks and McDonalds combined.

The businesses give cash advances, often at a high rate that can be difficult to pay down.

Now, lawmakers want to limit what lenders can charge customers.

Yvanna Cancela, Nevada state senator; Benjamin Edwards, associate professor of law, UNLV

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Kristy Totten is a producer at KNPR's State of Nevada. Previously she was a staff writer at Las Vegas Weekly, and has covered technology, education and economic development for the Las Vegas Review-Journal. She's a graduate of the Missouri School of Journalism.