Springfield lawmaker’s add-in can help payday lenders skirt licensing costs, advocates say

Springfield lawmaker’s add-in can help payday lenders skirt licensing costs, advocates say

Saturday

SPRINGFIELD – After several years of debate, the Springfield City Council voted Monday to impose brand brand new laws on payday loan providers whose interest that is high can make a “debt trap” for desperate borrowers.

Among the list of shows had been an agenda to impose $5,000 yearly licensing charges susceptible to voter approval in August, that will get toward enforcing the city’s guidelines, assisting people in debt and supplying options to short-term loans.

But lawmakers that are republican Jefferson City could have other some ideas.

Doing his thing previously Monday, Rep. Continue reading “Springfield lawmaker’s add-in can help payday lenders skirt licensing costs, advocates say”