Rep. Sarah Anthony (Picture: submitted)
Lansing residents must be on alert: huge changes are now being proposed within the loan that is payday, lots of which are harmful for borrowers and socially accountable loan providers.
A bill had been recently introduced within the Michigan home that will enable loans of up to $2,500 with costs of 11 percent monthly regarding the principal for the loan. That could equal a annual rate of 132 per cent on a single 12 months loan. […]