Florida Gov. Ron DeSantis on Monday vetoed a bill that would have allowed interest rates as high as 36 percent on consumer-finance loans.
The bill (HB 1267), which passed during the legislative session that ended May 5, would have replaced a tiered system that allows interest rates ranging from 18 percent to 30 percent, based on loan amounts.
“This increase in rates may result in additional indebtedness and could exacerbate the pinch already being felt due to federal government-induced inflation,” DeSantis wrote in a veto message.
