Moorhead councilwoman leads cost to cease ‘vicious period’ of payday advances

Moorhead councilwoman leads cost to cease ‘vicious period’ of payday advances

MOORHEAD — Moorhead City Councilwoman Heidi Durand is saying it is the right time to stop payday advances that typically charge triple-digit rates of interest.

She asked the town’s Human Rights Commission Wednesday, Feb. 19, to guide state legislation that could seriously reduce rates of interest or to back a city that is possible to restrict rates.

Durand stated the «working poor or the many financially strapped or susceptible» are taking right out vast amounts of these loans in Clay County, including as much as thousands and thousands of bucks in interest re re payments and costs taken from the economy that is local.

Numerous borrowers, she stated, can not get financing from another standard bank. Читать далее «Moorhead councilwoman leads cost to cease ‘vicious period’ of payday advances»