Southwest Public Policy Institute
Last week, I had the opportunity to testify before the Alaska Senate Finance Committee on the dangers of Senate Bill 39, a proposal to impose a 36% APR cap on consumer credit. Additional testimony was submitted to the Senate Labor and Commerce Committee before the bill was advanced to the Senate Finance Committee. This legislation […]
Alaska’s Senate Bill 39 (SB 39) proposes a 36% APR cap on consumer loans up to $25,000. The bill aims to regulate financial services, prevent “predatory” lending, and bring state laws in line with federal consumer protection measures. However, while the bill’s intentions may seem noble, its real-world consequences will devastate Alaskan consumers—especially those with […]
Earned Wage Access (EWA) has rapidly gained traction amidst the demand for short-term liquidity, but questions remain about the preservation of borrowers’ financial autonomy.
“The road to hell is paved with good intentions.”
SPPI’s reports, OLA’s studies, and the FDIC’s findings highlight the urgent need to protect credit access for unbanked and underbanked households.