NV to crack down on payday loans

Nevada is cracking down on predatory payday loans. State Treasurer Dan Schwartz is behind a bill that would require a 45-day period before interest rates and fees could be tacked on to the small, unsecured loan. The measure also creates a database so payday lenders can monitor borrowers’ lending requests. Schwartz is also moving to provide more reasonable lending terms for educators, veterans and active military members.