Nevada Lawmakers OK Payday Loan Bill

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CARSON CITY (AP) - A bill targeting high-interest "payday loan" businesses won approval late Friday in the Nevada Senate.

A few payday loan companies had fought the bill sponsored by Assembly Speaker Barbara Buckley. Buckley argues the companies are evading a 2005 law and are "motivated by greed." The 2005 law and the new bill have received support from larger, established payday loan companies - that Buckley says are obeying the law to their competitive disadvantage.

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