Here’s what the results are when pay day loans are prohibited

Here’s what the results are when pay day loans are prohibited

Every week, In Theory assumes on an idea that is big the news and explores it from a selection of views. This week we’re referring to payday lending. Require a primer? Get caught up here.

Deyanira Del Rio is co-director of brand new Economy venture in ny. Andy Morrison is promotions coordinator at brand New Economy venture.

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Imagine a land without any loans that are payday. Blinking neon signs marketing “Fast Cash” not any longer dot the landscape in low-income areas and communities of color, and nary a loan provider is permitted to draw out rates of interest of 400 % or over. Fortsett å lese «Here’s what the results are when pay day loans are prohibited»