Check ‘n get an online payday loan company at the part of E. 10th St. and Blauvelt Ave. in Sioux Falls seems to be peaceful on Wednesday, Nov. 16, 2016. (Picture: Jay Pickthorn/Argus Leader)

Simply an interest rate cap on pay day loans wasn’t enough.

The band of lawmakers whom crafted the language in Southern Dakota’s present restrictions on pay day loans, which restrict rates of interest to 36 percent, knew the industry would try to look for how to work across the guideline.

So they really included some additional defenses into the statute, utilizing language meant to stop non-bank loan providers from utilizing any “device, subterfuge or pretense” to circumvent the state’s price limit.

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