After a lot more than 2 yrs of debate and lobbying by advocates whom state pay day loans cause already-poor individuals to be stuck in a “debt trap,” Springfield City Council took action Monday night.

Council voted unanimously to place more needs on payday and vehicle name loan providers, including a $5,000 annual certification cost that will require approval from voters in August.

Following a guidelines associated with Finance and management Committee, council users authorized the ordinance, which can be just like the St. Continue reading →