Monthly Archives: March 2021

Grant County Organizations Create Loan Program to Replace Emergency Payday Loans

Ella Abbott Two organizations are teaming up to provide small loans to residents of Grant County, in an effort to discourage the use of high interest payday loans. The “Bridge the Gap” loan program aims to create better financial literacy and help residents lift themselves out of poverty. Grant County …

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NDP asks Ottawa to slash interest rates on payday loans

The federal New Democrats are calling on Ottawa to slash the legally permitted interest rate on loans and eliminate a loophole that allows the payday lending industry to charge ultra-high interest rates. In a private member’s bill introduced on Thursday, NDP house leader MP Peter Julian called for amendments to …

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Hang In, Illinois, And Cap Interest Rates At 36% On Payday Loans | Editorial

Six years ago, Downstate Springfield woman Billie Aschmeller took out a short-term loan of $ 596 that carried an insane annual interest rate of 304%. Even if she repaid the loan within the two years required by her lender, her total bill would exceed $ 3,000. Soon after, however, Aschmeller …

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