Category: payday loans pueblo

New county ordinance to limit payday loan providers

New county ordinance to limit payday loan providers

Payday loan providers and check-cashing outlets work as a substitute for conventional banking institutions by providing short-term loans and that can charge effective rates of interest as high as 460 per cent, county officials stated. Board of Supervisors President George Shirakawa stated they passed the ordinance because such loan providers are “predatory” and target low-income residents. Continue reading “New county ordinance to limit payday loan providers”