SALEM - The Oregon Senate today passed House Bill 2203, legislation that extends consumer protection laws to companies offering loans to Oregon consumers through the mail, the Internet or over the telephone. Passage of the bill follows Senate passage on Friday of House Bill 2204, legislation that limits the interest rate on title loans to 36 percent per annum. Both bills are priorities of Governor Ted Kulongoski.
"HB 2203 marks another step to protect Oregon consumers from unfair lending practices," said Senator Brad Avakian (D-Portland/Beaverton), carrier of House Bill 2203. "This levels the playing field so that out-of-state companies will join Oregon-based companies in complying with Oregon fair lending practices."
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Source: http://www.oregonlive.com/news/argus/index.ssf?/base/news/118133408383320.xml&coll=6
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