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Moorhead councilwoman leads fee to cease ‘vicious period’ of pay day loans

Moorhead councilwoman leads fee to cease ‘vicious period’ of pay day loans

MOORHEAD — Moorhead City Councilwoman Heidi Durand says it is time to stop loans that are payday typically charge triple-digit rates of interest.

She asked the town’s Human Rights Commission Wednesday, Feb. 19, to aid state legislation that could severely reduce rates of interest or to back a city that is possible to restrict prices.

Durand stated the «working poor or perhaps the many financially strapped or susceptible» are taking out fully vast amounts of these loans in Clay County, including as much as thousands and thousands of bucks in interest payments and charges taken off the regional economy. (más…)