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Springfield town leaders check out St. Louis in producing lending that is payday

Springfield town leaders check out St. Louis in producing lending that is payday

While their arms are tied up regarding interest that is capping, payday loan providers may charge — that is someone just Missouri legislators could do — people in Springfield City Council are thinking about producing an ordinance that could replace the method loan providers can run.

The council’s Finance and management Committee came across Wednesday to know from advocates for the alteration, including a Springfield girl whom claims her family members got caught into the “payday loan trap” for longer than two years and Cara Spencer, an alderman from St. (more…)