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Regional face of payday financing

Regional face of payday financing

Key in simple sight

Consumers can’t decipher between those beneath the payday lending work and people utilizing the loophole.

Nevertheless, the loophole isn’t any key to policy manufacturers.

In the past few years, some legislators have actually tried — and failed — to eliminate the loophole. In 2008, a small grouping of DFL lawmakers pressed legislation to eradicate the loophole and rein in payday loan providers or ban them entirely.