NH considers allowing short-term loans

AP News
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Posted: Jan 03, 2012 10:11 AM
NH considers allowing short-term loans

New Hampshire consumers could obtain short-term, installment loans under legislation before the House that advocates argue will expand their choices.

The bill would enable companies to offer loans for up to 180 days.

Critics argue the bill would allow companies to charge high interest rates without determining if the borrower could repay the loan.

But supporters said consumers would enter into the agreements with their eyes open.