It's a No-Brainer: Payday Lending Bill Shouldn't Be Passed in Senate
House Bill 2191, to legalize payday lending in Pennsylvania, is a foul piece of legislation no matter how proponents try to disguise it.
“Payday loans are sold as two-week credit products that provide fast cash, but borrowers are actually indebted for an average of five months per year,” concludes a Pew research report on payday loans that came out this summer. [...] The Pew report found that states such as (Pennsylvania) that outlaw all predatory lending have low instances of online loans.
Read the full article at www.pennlive.com
- Safe Small-Dollar Loans Research Project