(1) Reasons for Proposal

This Amendment aims to reduce the maximum interest rate annually collectible by credit businesses and credit financial institutions from 24 out of 100 to 20 out of 100 in an effort to ease the burden of high-interest rates on working class people.

(2) Major Provisions

A. Adjust the maximum interest rate for credit businesses and credit financial institutions (Article 5, paragraphs 2, 3, and 5, and Article 9, paragraphs 1, 2, and 4)

Reduce the maximum interest rate annually collectible by credit businesses and credit financial institutions from 24 out of 100 to 20 out of 100.