Idaho Senate passes payday loan restriction bill

[cashlenders]

BOISE, Idaho (AP) - The Senate has approved legislation requiring all payday lenders, including those operating on the Internet, to be licensed to do business in Idaho.
The Senate unanimously approved the bill Thursday. It now goes to the House.
Existing law does not require online payday loan lenders to have a license. But Sandpoint Republican Sen. Shawn Keough argues that the law should cover Internet payday lenders to give the state the authority to prosecute those who violate state laws.
The bill would also invalidate any loan provided by an unlicensed payday lender. It would also allow the state Department of Finance to issue cease and desist orders and sue unlicensed payday lenders.

[kenty]

I dont think this is bad at all. I believe all Payday Loan places should be liscenced in the state that their in. In this case Idaho.