H7850 — Allows RI to opt out of the provisions of DIDMCA exempting out of state lenders from interest rate limits which apply to RI lenders. Prevents evasion of statutory interest rate limits and lending rules for loans made in RI.

H7850 — Allows RI to opt out of the provisions of DIDMCA exempting out of state lenders from interest rate limits which apply to RI lenders. Prevents evasion of statutory interest rate limits and lending rules for loans made in RI. · Informed CitizenryThis bill allows Rhode Island to change how certain interest rate regulations are applied to lenders making loans within the state. Currently, federal law (DIDMCA) exempts out-of-state lenders from…Open in Informed Citizenry