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Federal bill would cap loan interest for customers. The bill, The Veterans and Consumers Fair Credit Act, co-sponsored by Rep.

Federal bill would cap loan interest for customers. The bill, The Veterans and Consumers Fair Credit Act, co-sponsored by Rep.

Wisconsin Republican Grothman joins Democrats in sponsoring legislation to produce borrowers from ‘debt trap’

Wisconsin Congressman Glenn Grothman (R- Glenbeulah ) introduced bipartisan legislation this week along side a few modern co-sponsors that aimed at protecting customers from predatory loan providers.

“Just on its face, where you’re interest that is getting up over 300%, it is immoral,” Grothman said in a phone press seminar on Tuesday to mark the development of the balance.