We commend the Springfield City Council for initiating a severe conversation on predatory lending. Such talk recognizes the harm pay day loans inflict upon our community. Hopefully, this discussion will result in some concrete action steps for Springfield.
Yet, talk just isn’t sufficient.
Springfield happens to be dealing with payday lending for over 10 years, yet absolutely absolutely nothing changed. Time upon time, talk will not be accompanied by action.
An organization from Faith Voices of Southwest Missouri and also the the indegent’s Campaign protest pay day loans outs
Yet again, Springfield has neglected to work.
While starting a promising discussion on pay day loans, the town Council recently voted to table three bills supposed to rein in this predatory business.
This is certainly many regrettable.
Nevertheless well-intentioned, talk without action dangers permitting the industry off scot-free.
Even though the council talks, pay day loan shops continues to harm borrowers therefore the economy that is local.
Even though the council speaks, the industry continues to burn off a opening into the pocketbooks of your most susceptible residents. (more…)