Republicans are accusing Democrats of rushing through a bill to regulate the payday loans industry in Wisconsin.
A plan that would cap loans at $600 passed out of committee on Wednesday and could be taken up by the full Assembly as early as Tuesday.
Democratic Senate Majority Leader Russ Decker says the Senate will consider a different bill that may include a rate cap for payday loans.
Republican Senate Minority Leader Scott Fitzgerald says the Legislature should slow down because there’s a cloud over the issue. Democratic Assembly Speaker Mike Sheridan has admitted dating a lobbyist for the payday lending industry.
Decker says regulating the industry has been discussed for years and he thinks the Legislature will act this session.
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