Rep. Jim Dunnigan, R-Taylorsville, is one of a few legislators introducing bills that would give consumers more protection when dealing with payday lending companies.
HB127 would require deferred deposit lenders, also known as payday lenders, to start reporting detailed information about the loans they give out and how long it takes people to repay them. Rep. Dunnigan says this will help get to the bottom of the claim that payday lenders help create a cycle of debt for people with low income.
While the cost of obtaining a college degree in the United States continues to rise, Utah colleges and universities manage to keep college debt in check. NerdScholar, a website that helps college students make better decisions about higher education is calling Utah the 2nd best state in the nation for low student debt.