We commend the Springfield City Council for starting a conversation that is serious predatory lending. Such talk acknowledges the destruction pay day loans inflict upon our community. Ideally, this discussion will result in some concrete action actions for Springfield.
Yet, talk just isn’t sufficient.
Springfield is speaking about payday lending for over 10 years, yet absolutely absolutely absolutely nothing has changed. Again and again, talk will not be accompanied by action.
A bunch from Faith Voices of Southwest Missouri while the the indegent’s Campaign protest pay day loans outs /> (Photo: Nathan Papes/News-Leader)
Yet again, Springfield has failed to act.
While starting a promising discussion on payday advances, the town Council recently voted to table three bills supposed to rein in this predatory business.
This can be many regrettable.
Nevertheless well-intentioned, talk without action dangers letting the industry off scot-free.
Whilst the council speaks, cash advance shops continues to harm borrowers plus the regional economy.
Even though the council speaks, the industry will continue to burn off a opening when you look at the pocketbooks of your many susceptible residents.
Although the council speaks, Jefferson City continues to ignore interest that is sky-high, figuring that talk is more palatable than action. Read more