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On November 16, 2025, Oregon introduced new regulations aimed at protecting consumers in debt from aggressive creditor practices. The move comes as the state government seeks to address rising concerns over predatory lending and unfair debt collection practices.One of the key provisions of the new regulations is a limit on the amount of interest that creditors can charge on outstanding debts. Under the new rules, creditors are prohibited from charging more than 36% APR on any outstanding debt. This is a significant reduction from the previous cap of 60% APR, which had allowed creditors to charge exorbitant interest rates that often trapped consumers in a cycle of debt.In addition to the interest rate cap, the new regulations also require creditors to provide clear and transparent information to consumers about the terms of their loans and repayment options. This includes disclosure of the total amount owed, the interest rate, and any fees or penalties associated with the loan. Creditors are also required to provide borrowers with a 30-day notice before initiating any debt collection activities, giving consumers ample time to seek financial counseling or explore other repayment options.The Oregon Department of Consumer and Business Services, which oversees the implementation of the new regulations, has stated that these measures are necessary to protect consumers from unfair and abusive debt collection practices. They believe that by setting clear guidelines for creditors and ensuring that consumers are fully informed about their rights and options, the state can help alleviate financial hardship for thousands of Oregonians.Consumer advocacy groups have welcomed the new regulations, noting that they will provide much-needed relief to those struggling with debt. "For too long, creditors have taken advantage of vulnerable consumers by charging exorbitant interest rates and using aggressive debt collection tactics," said Sarah Jones, a spokesperson for the Oregon Consumer Rights Coalition. "These new regulations will level the playing field and ensure that consumers are treated fairly and with dignity."While the new regulations have been met with praise from consumer advocates, some creditors have expressed concerns about the impact on their bottom line. They argue that the stricter regulations will make it harder for them to recoup losses from unpaid debts and may force them to curtail lending to high-risk borrowers.Overall, the introduction of the new regulations marks a significant milestone in Oregon's efforts to protect consumers from predatory lending practices and ensure a fair and transparent debt collection process. It is hoped that these measures will provide much-needed relief to those in debt and help promote greater financial stability