S2206 — 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.

S2206 — 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 would allow Rhode Island to remove an exemption that currently permits out-of-state lenders from avoiding interest rate limits designed for local financial institutions. If passed, the la…Open in Informed Citizenry