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Protesters accuse payday loan providers of loan sharking

Protesters accuse payday loan providers of loan sharking

EGoodenow

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The Rev. John Copenhaver associated with the United Methodist Church and vice president regarding the Valley Interfaith Council talks at a protest nearby the Advance America workplace at 2124 S. nice Valley path on Friday. Copenhaver along with other spiritual leaders state vehicle title and loan that is payday like Advance are guilty payday loans TX of predatory lending to poor people as a result of high yearly portion prices on loans that trap borrowers into financial obligation.

Evan Goodenow/The Winchester Sta

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WINCHESTER — Car name and pay day loans are billed as short-term repairs for folks low on money, but experts state they’re legalized loan sharking because of astronomical annual portion prices (APR) that trap vulnerable borrowers into endless cycles of debt. (more…)

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