A year ago, then-Rep. Nelson (she relocated up to the senate this present year) effectively sponsored a bill that imposed brand brand brand new regulations on payday lenders—companies that offer little, short-term loans at exceptionally interest that is high. The payday that is loans—called since they’re meant to get yourself a debtor through through to the next payday—are controversial due to their sky-high interest levels; modern legislators was in fact attempting for a long time to modify the industry, with very little luck before Nelson arrived.
