By Grace Austin

Nevada is securing its cash advance laws by having a database that is new could better monitor information regarding loans into the state and close present loopholes.

With votes following party lines, the Nevada Senate passed a bill to produce a statewide payday and high-interest loan database in April.

It might allow the state’s finance institutions Division to contract by having a vendor that is private create that database.

SB201 would check always loan that is payday conformity with state regulations and gather data like loan quantities, loan interest, just how often a debtor removes a particular loan, charges leveled on loans, and the ones borrowers with outstanding loans. Read the rest of this entry »