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SPRINGFIELD – After many years of debate, the Springfield City Council voted Monday to impose brand brand brand new laws on payday lenders whose interest that is high can cause a „debt trap“ for desperate borrowers.
Among the list of features ended up being a strategy to impose $5,000 annual licensing charges susceptible to voter approval in August, that will get toward enforcing the town’s guidelines, assisting individuals with debt and supplying alternatives to short-term loans.
But lawmakers that are republican Jefferson City could have other some ideas. Pokračování textu Springfield lawmaker’s add-in can help payday lenders skirt fees that are licensing advocates state