Faith teams join push for national cash advance guidelines

Posted on April 4, 2021April 4, 2021Categories loannow loans payday loan near me  Leave a comment on Faith teams join push for national cash advance guidelines

Faith teams join push for national cash advance guidelines

Kansas City, Mo. — enclosed by clergy, community organizers and signs that are multi-colored “Stop your debt trap,” Elliott Clark asked those collected at Barney Allis Plaza right right here: “that is beside me?”

The parishioner of St. Therese the small Flower Church in Kansas City had simply completed sharing their knowledge about a $2,500 pay day loan that ballooned to significantly more than $50,000 over 5 years, providing an impassioned plea for loannow loans promo code reforms regarding the industry.

Following the audience responded their concern with cheers, Clark included, “Then let’s tell the folks what are you doing.”

The “Stop the Debt Trap” rally preceded an industry hearing Thursday held by the buyer Financial Protection Bureau, a completely independent federal watchdog agency, on its brand brand new proposed guidelines aimed at managing predatory payday financing. Continue reading “Faith teams join push for national cash advance guidelines”