The Big Business of Making Small Loans

Archive Report


The right to reproduce material contained in Editorial Research Reports is strictly reserved to the newspaper clients of the service. Verbatim use of such material by others will be permitted only upon written authorization of the editor.

Richard M. Boeckel, Editor

Revision of Existing Small-Loan Legislation

Small loan legislation is to be the subject of extensive consideration this year in the legislature of New York State, where Governor Lehman has for the second time recommended reduction of the present legal interest rates. Under the present New York law, which establishes a rate of 3 per cent a month on unpaid balances up to $150 and 2½ per cent a month on any part of the balance above that amount, licensed lenders last year served 480,000 borrowers and ...

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