Jobless Claims Continue to Drop
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Speaking for the Online Lenders Alliance, a payday-lending trade group, lobbyist Dave Swayze said efforts to curtail short-term lending fly in the face of Delaware's landmark Financial Center Development Act, the 1981 law that eliminated the state's usury statutes and allowed banks to charge unlimited interest rates. "We will let the marketplace, we will let the buyer and seller, the contract entered into by them, determine the terms of the loan," he said.