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State Attorenys Oppose Federal Bill

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Indiana Attorney General Greg Zoeller has joined 40 state attorneys general to urge Congress to oppose a bill they say preempts states’ authority to crackdown on predatory high cost, short-term lending practices. Zoeller says proposed legislation would allow providers – including payday lenders, installment lenders, car title lenders, prepaid card issuers and check cashiers – the ability to obtain a federal charter and sidestep more stringent state laws.

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