HB 1223, which helps the strained state budget via a registration fee on those who impose excessive loan interest on the people, and HB 1224 which seeks to temper excessive interest, have received first readings in the House and are now referred to the House Commerce and Energy Committee.
Please contact legislators on that Committee and let them know that you are concerned about predatory lending gimmicks in South Dakota. In these tough financial times, we don't need our neighbors with short term needs trapped in long term debt. Track the bills - those who protect the predatory lending business generally try to kill such legislation in community, before it can get to wider public debate.
Iowans are mobilizing against predatory lending, too:
Groups join to push Iowa Legislature to approve limits on payday loan interest