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Payday loans will be capped
Michael Neibauer, The Examiner Sep 19, 2007 9:48 AM (804 days ago)WASHINGTON The D.C. Council on Tuesday overwhelmingly approved legislation to cap soaring interest rates of payday lenders, a move that a representative of the high interest loan industry said “doomed” their businesses. The bill passed by a 12-1 vote, with only Ward 8 Council Member Marion Barry — once a backer of the measure — standing opposed. Ward 3 Council Member Mary Cheh, who led the charge, characterized payday lenders as an “invasive species” causing “destruction and havoc” in the lives of their borrowers, mostly the working poor.
http://www.examiner.com/a-943104~Payday_loans_will_be_capped .html The above excerpt and link will be sent by email. |
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