Washington State passed a payday loan reform bill that just limits the amount of loans an individual can consume a 12 months. Hereâ€™s exactly just what occurred.
Series: Debt Inc.
Lending and Collecting in the us
a form of this whole story was co-published using the St. Louis Post-Dispatch.
Last year, customer advocates in Washington State made a decision to here is another brand new approach to regulating payday advances. Like reformers in other states, theyâ€™d tried getting the legislature to ban loans that are high-cost â€” but had struck a solid wall. Therefore, rather, they were able to get a legislation passed that limited borrowers to a maximum of eight payday advances in twelve months. Read more
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