Votes on pay day loans ‘potentially devastating’ for many susceptible

Votes on pay day loans ‘potentially devastating’ for many susceptible

By Victoria Arthur

The Indiana Catholic Conference (ICC) along with other advocates when it comes to p r vow to help keep up their battle after two current votes into the Indiana Senate that in place would significantly expand predatory financing within the state.

In a detailed vote, lawmakers defeated Senate Bill 104, which will have put limitations in the payday financing institutions that fee consumers a yearly portion rate (APR) all the way to 391 % from the short-term loans which they provide.Continue reading