Moorhead councilwoman leads cost to avoid ‘vicious period’ of pay day loans
MOORHEAD вЂ” Moorhead City Councilwoman Heidi Durand says it is time to stop loans that are payday typically charge triple-digit rates of interest.
She asked the town’s Human Rights Commission Wednesday, Feb. 19, to support state legislation that will seriously reduce rates of interest or to back a feasible town plan to restrict prices.
Durand said the “working poor or perhaps the many financially strapped or susceptible” are taking right out huge amount of money of such loans in Clay County, including up to hundreds of thousands of bucks in interest re re payments and costs removed from the economy that is local.
Numerous borrowers, she said, can not get that loan from another loan companies institution that is financial. Continue reading “Moorhead councilwoman leads cost to avoid ‘vicious period’ of pay day loans”
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