In response to ASIC's concerns, Fast Easy has agreed to refund all affected consumers in Queensland, New South Wales and the Australian Capital Territory any amounts paid in brokerage fees above the state-based interest rate caps
of 48% by November 2014.
When interest rate caps
were scrapped in our state in 1999, the legislative history shows that the Legislature expected interest rates to go up to only 20 to 25 percent.
4 billion in states that enforce reasonable interest rate caps
We will continue to pursue additional opportunities for further interest rate protection, as we believe the interest rate caps
provide an excellent opportunity for us to manage our exposure to potential increases in the prime rate during 2002", concluded Kitchin.
This year's second quarter net income excluding the impact of the mark-to-market of interest rate caps
and share-based compensation was USD59.
First quarter 2008 net Income excluding non-cash charges relating to the mark-to-market of interest rate caps
and share-based compensation was US$59.
Because 29 other states have imposed interest rate caps
similar to Oregon's, it seems likely that the industry will adapt and continue to exist in this state, as it has elsewhere.
Most of the loans have a life of seven years and interest rate caps
that range from 2.
NEW YORK -- A proposed extension of interest rate caps
currently in place for Tenzing CFO S.
Second quarter 2009 net income excluding the impact of the mark-to-market of interest rate caps
and share-based compensation was $39.
4m compared to the second quarter of 2007, excluding the effect of mark-to-market of interest rate caps
and share-based compensation this was USD58.
Earnings per share excluding non-cash charges related to the mark-to- market of interest rate caps
and share-based compensation are determined by dividing the amount of net income excluding such charges by the average number of shares outstanding for that period.