Alaska Rejects Price Controls on Interest Rates

Alaska Rejects Price Controls on Interest Rates

On June 24th, Alaska Governor Mike Dunleavy vetoed SB 39, a bill that would have capped interest rates for loans under $25,000 at 36%. This move deserves praise as a win for consumers and borrowers with exceptional and urgent needs for short-term credit.   In a memo related to the veto, Governor Dunleavy rightly underscored key concerns about how the bill would impact access to short-term credit and emergency loans.   Interest rate caps are a te…