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Banking chief urges Iowa usury rate hike
Des Moines AP State Banking Superintendent Tom Huston told lawmakers a higher 9 percent usury rate is needed to prevent harm to the economy. He warned higher loan costs would reduce bank profits and affect agriculture and real estate financing. The committee will reconvene June 8-9 to hear more views and study floating rate options.
MENTIONED IN THIS ARTICLE
Des Moines
Tom Huston
Huston
State Comptroller’s Office
State Auditor's Office
Savings and Loan
Edward Schenkenberg
Metropolitan Life Insurance Co
Curt Sorteberg
Iowa Farmers Union
Sorteberg