Oregon’s governor has signed a bill that bans title loan and payday companies from making a new loan to a consumer until seven days after a previous advance has been fully repaid. The new law also prevents lenders from making or renewing a title loan or payday loan with an interest rate greater than 36 percent a year. Any loan contracts executed on or after Jan. 1, 2020, including renewals, will be subject to the new provisions.

Lexology (06/06/19)


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