Nj-new jersey possesses 30% rate of interest cap on loans however the Trump administration’s proposed guideline will allow predatory lenders to pay for an out-of-state bank to act as the “true lender” on behalf of this predatory loan provider. This can exacerbate our state’s eviction crisis, cause more bankruptcies, shutter more businesses that are small and force many families to make over their hard-earned wages to a predatory payday loan provider, Beverly Brown Ruggia of the latest Jersey Citizen Action claims.