Local add-in that is lawmaker’s help payday loan providers skirt town certification charges

Local add-in that is lawmaker’s help payday loan providers skirt town certification charges

The Springfield City Council voted Monday to impose new regulations on payday lenders whose high interest rates can create a “debt trap” for desperate borrowers after years of debate.

One of the features ended up being a strategy to impose $5,000 licensing that is annual at the mercy of voter approval in August, that could go toward enforcing the town’s guidelines, helping individuals with debt and supplying options to short-term loans.

But Republican lawmakers in Jefferson City might have other some ideas.بیشتر بخوانید