Springfield lawmaker’s add-in may help payday lenders skirt fees that are licensing advocates say

Springfield lawmaker’s add-in may help payday lenders skirt fees that are licensing advocates say

Saturday

SPRINGFIELD – After many years of debate, the Springfield City Council voted Monday to impose brand brand brand new laws on payday loan providers whose high interest levels can cause a „debt trap” for hopeless borrowers.

One of the shows ended up being a plan to impose $5,000 licensing that is annual susceptible to voter approval in August, that could go toward enforcing the town’s guidelines, assisting individuals in financial obligation and supplying options to short-term loans. […]

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