We commend the Springfield City Council for starting a severe discussion on predatory lending. Such talk acknowledges the destruction pay day loans inflict upon our community. Ideally, this discussion will result in some action that is concrete for Springfield.
Yet, talk is certainly not sufficient.
Springfield is speaking about payday lending for over 10 years, yet absolutely nothing has changed. Again and again, talk is not followed closely by action.
An organization from Faith Voices of Southwest Missouri plus the the indegent’s www.badcreditloanapproving.com/payday-loans-in Campaign protest pay day loans outside Historic City Hall before a town council conference on April 22, 2019 monday. (Picture: Nathan Papes/News-Leader)
Once more, Springfield has failed to work.
While starting a promising discussion on pay day loans, the town Council recently voted to table three bills designed to rein this predatory business in.
This can be many regrettable.
Nonetheless well-intentioned, talk without action risks permitting the industry off scot-free.
Whilst the council speaks, cash advance shops continues to harm borrowers and also the regional economy.
Although the council speaks, the industry continues to burn off a opening into the pocketbooks of your many vulnerable citizens.