Report Finds Pay Day Loans lead clients Into often ‘Cycle of Debt’

Report Finds Pay Day Loans lead clients Into often ‘Cycle of Debt’

Hearings in Olympia will examine two bills from state Rep. Sherry Appleton to regulate the industry today.

The report’s timing coincides with initial hearings that are legislative in Olympia from the problem of payday financing.

Up for conversation are a couple of bills proposed by Rep. Sherry Appleton, D-Poulsbo, that could control the high-interest, short-term loans. One particularly addresses members that are military one other objectives all customers.

Previous tries to control lending that is payday Washington have now been supported by armed forces leaders, the Statewide Poverty Action system and work unions, nonetheless they are mainly unsuccessful. Continue reading “Report Finds Pay Day Loans lead clients Into often ‘Cycle of Debt’”