Listen Minn. lawmakers consider limiting pay day loans
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By: Cathy Mayfield Minnesota Public Broadcast
St. Paul, Minn. – Once the recession deepens and individuals in the economic margins battle to spend lease or make automobile repairs, payday advances can provide quick assistance. Nonetheless, borrowers also can find themselves caught in a cycle that is vicious of.
As an element of our Youth Radio series, Cathy Mayfield associated with University of Minnesota talks about fast money in a poor economy.
Growing up in a middle-class family members in Chicago with two working moms and dads, we usually found ourselves strapped for money. When it comes to previous couple of years, my mom, Yolonda Mayfield, happens to be taking right out payday advances. Continue reading “Today in the Capitol, lawmakers will think about two bills that could limit lending that is payday”