The coalition members also will aim at payday loans and inflated appraisals of homes, which can cause homeowners to unwittingly borrow more on their home than it's worth.
The group took aim at title loans in 2005, and a bill that would cap the interest rate at 21 percent annually passed the state Senate but died in the House. Joe Bolkcom, a Democratic senator from Iowa City who spearheaded the 2005 car title bill, said he'll use essentially the same language in 2006.
Rod Aycox , owner of LoanMax, which has operations in Des Moines as well as Cedar Rapids, Council Bluffs, Sioux City and Waterloo, said he already has cut his interest rate in Iowa from 365 percent annually to 260 percent...
Isn't that charitable. I also hear Tony Soprano is only breaking one kneecap instead of two these days.
Not sure if the issue will go anywhere with the tied Senate and barely GOP house, but Bolkcom is keeping it on the map.
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