In recent news from Georgia's debtor and creditor landscape, new legislation has been introduced to provide additional protection for borrowers in the state. The bill, which was signed into law by Governor John Doe on February 19, 2026, aims to address issues related to predatory lending practices and unfair debt collection practices.One of the key provisions of the new law is a cap on the interest rates that can be charged on payday loans and other short-term loans. Under the new regulations, lenders will be prohibited from charging interest rates higher than 36% APR on these types of loans. This is a significant change from the previous regulations, which allowed lenders to charge interest rates as high as 150% APR.Additionally, the legislation includes measures to regulate debt collection practices in the state. Debt collectors will now be required to provide borrowers with detailed information about the debt they are attempting to collect, including the original creditor and the amount owed. Furthermore, debt collectors will be prohibited from engaging in harassing or abusive practices, such as making repeated phone calls or threats of legal action.The new law has been praised by consumer advocacy groups and lawmakers alike for its efforts to protect borrowers from predatory lending practices and unfair debt collection practices. "This legislation is a huge step forward in ensuring that Georgians are treated fairly by lenders and debt collectors," said State Senator Jane Smith, who co-sponsored the bill.While the new regulations are a positive development for borrowers in Georgia, some industry groups have expressed concerns about the impact it will have on lenders. The Georgia Lenders Association issued a statement saying that while they support efforts to protect consumers, they believe the new regulations may limit access to credit for some borrowers.Overall, the new legislation represents a significant victory for consumer protection in Georgia's debtor and creditor landscape. By implementing measures to combat predatory lending practices and regulate debt collection practices, the state is taking a proactive approach to ensuring that borrowers are treated fairly and ethically in their financial transactions.