Here’s exactly what takes place whenever payday advances are prohibited

Here’s exactly what takes place whenever payday advances are prohibited

Every week, In Theory assumes on a big concept in the news and explores it from a selection of views. This week we’re speaing frankly about payday lending. Require a primer? Get caught up here.

Deyanira Del Rio is co-director of brand loan payday advance Missouri new Economy venture in nyc. Andy Morrison is promotions coordinator at brand New Economy venture.

Imagine a land without any pay day loans. Blinking neon indications marketing “Fast Cash” not any longer dot the landscape in low-income communities and communities of color, and nary a loan provider is permitted to draw out interest levels of 400 per cent or more. This is simply not a far-fetched story book or some long-forgotten history. Continue reading “Here’s exactly what takes place whenever payday advances are prohibited”