Florida borrowers could owe higher interest rates on consumer-finance loans under a bill passed by the House

The Florida House passed a bill that could increase interest rates on consumer-finance loans. The bill allows for higher interest rates on different principal amounts, aiming to attract more lenders to the state. However, opponents are concerned about the impact on borrowers who may not qualify for bank loans. Governor DeSantis vetoed a similar bill last year due to concerns about increased indebtedness and inflation.