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South Dakota Approves 36% Rate Cap on Payday Lenders

American Banker

Voters in South Dakota on Tuesday overwhelmingly approved a measure to cap interest rates on payday, installment and auto title loans at 36%, while rejecting a competing amendment sponsored by a large payday lender.

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June’s Top 12 Mobile Pay Moments

PYMNTS

On June 16, Samsung Pay arrived in Singapore, allowing users of Galaxy Note 5, S6 Edge+ and the S7/S7 Edge phones can use Samsung Pay in the region. Our research shows that marketplace lending is suffering from sluggish adoption because of either insufficient value to switch or a lack of trust in the financial services provider.”

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