Whenever will Springfield address payday lending? That is many regrettable

Whenever will Springfield address payday lending? That is many regrettable

We commend the Springfield City Council for starting a severe discussion on predatory lending. Such talk acknowledges the harm pay day loans inflict upon our community. Hopefully, this discussion will result in some concrete action actions for Springfield.

Yet, talk is certainly not sufficient.

Springfield happens to be dealing with payday lending for over 10 years, yet absolutely absolutely nothing changed. Time upon time, talk will not be accompanied by action.

A bunch from Faith Voices of Southwest Missouri therefore the the indegent’s Campaign protest payday advances outside Historic City Hall before a town council conference on Monday, April 22, 2019. (Picture: Nathan Papes/News-Leader)

Once more, Springfield has neglected to work.

While starting a promising discussion on pay day loans, the town Council recently voted to table three bills designed to rein in this predatory company.

This is certainly many regrettable.

Nonetheless well-intentioned, talk without action dangers letting the industry off scot-free.

As the council speaks, pay day loan shops continues to harm borrowers and also the economy that is local.

The industry will continue to burn a hole in the pocketbooks of our most vulnerable citizens while the council talks. Continue reading “Whenever will Springfield address payday lending? That is many regrettable”