Legislation Establishes Nevada Cash Advance Database. The balance, SB201, ended up being sponsored by Democrat Yvanna Cancela.

Legislation Establishes Nevada Cash Advance Database. The balance, SB201, ended up being sponsored by Democrat Yvanna Cancela.

By Grace Austin

Nevada is tightening up its pay day loan laws having a database that is new could better monitor information linked to loans when you look at the state and close present loopholes.

The Nevada Senate passed a bill to create a statewide payday and high-interest loan database in April with votes following party lines.

It might permit the state’s banking institutions Division to contract having a personal merchant to create that database. (more…)