Florida Senate Backs Changes In Payday Advances, Workers’ Comp
Florida – Meeting in a uncommon Saturday session, the Florida Senate authorized revamping laws for pay day loans and supported expanding employeesвЂ™ settlement insurance coverage advantages for police and firefighters who are suffering from post-traumatic anxiety condition.
Senators voted 31-5 to pass through a measure (SB 920) that could enable payday loan providers to make larger loans for longer amounts of time. The industry-backed proposal additionally has sailed through home committees, though it offers drawn opposition from some customer advocates.
The balance allows the companies to create вЂњinstallmentвЂќ loans as much as $1,000, with payment over 60 to ninety days.