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Texas Legislature passes high interest rate ceiling
The Legislature approved a floating ceiling tied to a six month Treasury rate raising maximum loan costs to 24 percent for most consumer loans and 28 percent for large commercial loans with small loans spurring up to 157 percent. Credit card holders may choose to keep the old rate but cannot purchase until old balances are paid. Governor Clements and Attorney General White spar over bilingual education and a federal court order.
MENTIONED IN THIS ARTICLE
Bill Clements
Treasury
Der
U.S
William Wayne Justice
Clements
Justice
Texas
Mark White
White
Texas Education Agency
U.S. House
Jim Wright
D-Fort Worth
Ronald Reagan
Reagan
Bill Clayton
Wright